NEWS: Power: FG to spend N652bn on transmission infrastructure

ABUJA — The Federal Government is to spend $4 billion (about N652 billion) on the construction and rehabilitation of transmission infrastructure in the country.
A statement signed by the Special Adviser to the Vice President Namadi Sambo, Alhaji Umar Sani, said Sambo made this known in Abuja, yesterday, when he received the Vice President of the State Grid Corporation of China, Mr. Cheng Wei in his office at the State House.
The vice president, who said he was highly impressed with the experience, capacity and the capability of the company, noted that the firm was coming into the country at the right time when the government was set to provide adequate power supply to Nigerians, even as the consultancy services for the project had been already been advertised.
According to Sambo, the Transmission Company of Nigeria, TCN, and the Niger Delta Power Holding Company, NDPHC, would implement the projects with the active participation and supervision of the Ministry of power.
He also said some of the major power projects that would improve transmission included the Mambila Hydro Power project which was to be executed under a public private partnership arrangement with the consultancy services costing about $6.4billion (about N1.7 trillion).
Sambo streesed that the counterpart fund of $1.6 billion had already been provided by the government for the important project.
Other include the Zungeru 700mw hydro power project, the Gurara Phase II Hydro power project due to be completed at the end of the year and the Itisi Hydropower project. All the projects would  generate 20,000mw of electricity by the 2018 when completed.
Earlier, the Vice President of the SGCC had said in his power-point presentation that the State Grid of China Corporation had an annual revenue base of about $300 billion, pointing out that they intended to set up a company that would fabricate and eventually manufacture electrical equipment as well as provide training for staff on manufacture and installation of such equipment.

posted by ItsNothing
FOLLOW @acewoka

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s