FG to spend $4bn on power transmission infrastructure

By The Rainbow
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FG to spend $4bn on power transmission infrastructure

The Federal Government plans to invest $4billion for the construction and rehabilitation of transmission infrastructure in the country, as it works towards realizing its promise of providing stable power in the country.

Vice-President Namadi Sambo disclosed this in Abuja when he received the Vice-President of the State Grid Corporation of China, Mr. Cheng Wei, at the Presidential Villa.

According to him, some of the major power projects that  attracted transmission such as the Mambila Hydro Power project, are to be executed under a public private partnership  (PPP) arrangement.

Both the transmission and project consultancy would cost  $6.4billion, the counterpart fund of $1.6billion had already been provided by the government.

The vice president assured the corporation of fair competition in the planned transmission projects in the country.

He said he was  impressed with the experience, capacity and the capability of the Chinese company, adding that the company was coming at the right time when the transformation agenda was set to provide adequate power supply to the country.

A statement by the Senior Special Adviser on Media and Publicity to the Vice President, Umar Sani, reads,

'He (Sambo) stated that the sum of $4billion has been earmarked for the construction/rehabilitation of transmission infrastructure in the countrys adding that very recently vacancy for consultancy services was advertised and the company was advised to participate by responding to the advertisement

'The vice-president said the Transmission Company of Nigeria (TCN) and the Niger Delta Power Holding Company were the two companies that would implement the projects with the active participation and supervision of the ministry of power.

'Sambo added that some of the major power projects that would attract transmission include the Mambila Hydro Power project to be executed under a PPP arrangement and that both the transmission and project consultancy would cost $6.4billion and that the counterpart fund of $1.6billion had already been provided by the government for such an important project.'

According to the statement, the vice-president 'catalogued other projects that would have transmission which 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, adding that government planned to generate 20,000mw by 2018 on completion of these and other projects.'

Earlier, the group, which was chaperoned by the Chairman Integrated Energy Mr. Olatunde Ayeni, invited the Vice President of the SGCC for Powerpoint presentation on the capacity, asset, revenue base and accumulated experiences of the company.

'State Grid of China Corporation has an annual revenue base of about $300billion 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 electrical equipments.

'The company was proud of its place in the provision of ultra high voltage technology, Power Grid Construction Field and Transmission,' Ayeni said in the statement.