FG Partners US to Build 1,350mw Power Plant

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  • FG Partners US to Build 1,350mw Power Plant

The Federal Government through the Nigerian National Petroleum Corporation (NNPC) has partnered the US Trade and Development Agency to build a 1,350 megawatt power plant in Abuja.

According to the people familiar with the project, the US Trade and Development Agency has awarded a $1.16 million grant for feasibility study of the Abuja Independent Power Project.

This, the government said would help alleviate electricity issue that has crippled businesses and growth across the country.

Hussain El-Yakub, the Managing Director, Gas & Power Investment Company, a subsidiary of NNPC, signed for the Federal Government while Thomas Hardy, Director, USTDA signed for his agency.

NNPC, however, said it would work two US firms, GE and Continuum Associates to deliver the independent power project in Abuja.

Speaking on the project, Hardy said work would commence immediately on the feasibility study and said his agency would invest $1.1 billion in the project.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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