05 February 2013, Sweetcrude, Abakiliki – The Ebonyi State government has signed a Memorandum of Understanding with a firm to produce 2,000 megawatts of electricity by September 2013.
The State Governor, Martin Elechi, who disclosed this during a town hall meeting to round off the National Good Governance tour of Ebonyi State, said the principal partners, last week, signed a production agreement of the turbines in South Korea.
He said the State government was committed to putting in place, critical infrastructures that would promote economic activities and attract investors into the state.
The governor noted that the World Bank, federal ministry of finance and its Water Resources counterpart were assisting the state to ensure the completion of the state water projects.
He said that the only project embarked upon by his administration was the new campus of the State’s university, estimated to cost about $500 million.
He explained that the repayment of the N20 billion bond secured by the state from the capital market has been structured in a way that by September 2015, the debts would have been liquidated.
Elechi said: “We are not going to leave a debt burden for the next administration. By the time I leave office, the administration that would come after me would only pay about N560 million every month for four months. After the liquidation of the debts the benefits would be there in the state to enjoy forever.”
