Power: HoneyWell plans $1bn investment in Lagos, Ogun, others

13 August 2012, Sweetcrude, LAGOS – CHRIS Bale, chief executive officer of HoneyWell Group, says the company plans to invest over $1 billion in the execution of power generation and transmission projects across the country.

Bale, who listed the states where the company is planning the investment to include, Lagos, Ogun and Bayelsa, said the Nigerian Electricity Regulatory Commission, NERC, had already issued his company licence to build a plant in Akute Oshun in Ogun State.

He said the project will be completed before 2014 and that power from the plant will cover Ogun, Lagos and other parts of the South-west.

“We see the potential for the housing Project in Ogun state to be 500 megawatts, we are looking at 100mw megawatts in Bayelsa State, we are looking at another 500mw plant closer home (Lagos)”, he stated.

Bale said his company was discussing with the Bulk Trading Company as part of efforts to make the various power investments a success.

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  • This investment plan is heart warming. Let’s hope that the authorities come alive to their responsibilities when the time comes to grant the necessary import waivers and that the state governments where these investments are planned don’t act as a stumbling block when the chips are down.