A Review of the Nigerian Energy Industry

Anambra govt signs MoU on power plant

Chima Ugwuanyi

14 October 2012, Sweetcrude, Awka – The Government of Anambra State, South East Nigeria, has signed a Memorandum of Understanding with a consortuim comprising both foreign and local Intestors, for construction of 260 megawatts of electricity plant, which will cost about $350 million, equivalent to about #55 billion.

The signing and sealing of the deal was done by Governor Peter Obi himself, along with Mr Russel Schwartz, representing Denca Services Limited, Chief Dennis Okafor representing the people of Anambra State and Daniel Oshiogwemde, who signed on behalf of Stanbic IBTC Bank.

In his remarks during the ceromony, the Governor emphasized the critical nature of energy for the growth of any economy and hoped that Nigeria’s economy stand to compete favourably with any other economy of any country in the world, with adequate and stable Power Supply.

The governor disclosed that, on completion the Power Plant will serve Industries in Nnewi, Onitsha and other parts of the State and assured that he would give all necessary support to enable the completion of the project on schedule and according to the specifications in the M.O.U, while also using the occasion to woo more investors to the state.

The Anambra State Commissioner for Public Utilities and Rural Development, Emeka Nwankwu shedded more light on the intent of government, on making the state one of the strongest economies in the country.Nwankwu further hinted that the state administration had as one of its top priorities, the improvement of necessary infrastructure as a sure means of boosting the State’s economy.

Also speaking, Schwartz, on behalf of Denca Services Limited, gave assurances that construction would commence soon, as arrangement for the installation of the plant’s turbine has been concluded.

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