Transcorp targets 1,500 MW increase of Ugheli power plant


elumelua-obama The core investor in Ugheli Power Plc, Transcorp Nigeria Plc, has pledged to raise the capacity of the power plant from 900 megawatts to 1,500MW within three years.

Thank you for reading this post, don't forget to subscribe!

The Chairman of Transcorp, Mr. Tony Elumelu, made the pledge while receiving the handover documents of the company, according to a statement made available to our correspondent in Abuja on Tuesday by the Head of Public Communications, Bureau of Public Enterprises, Mr. Chigbo Anichebe.

Elumelu also said that Transcorp Ughelli Power had huge plans for the host communities in terms of corporate social responsibility, among which were the establishment of a football academy to be managed by one of the leading European soccer training institutes; and establishment of an integrated petrochemical plant, health care facilities and the provision of street lights.

At the event, Vice-President Namadi Sambo, who is also the Chairman, National Council on Privatisation, said the participation of the private sector in the electric power sector reform programme would bring about higher generation capacities through the provision of more efficient and cost effective power stations and improvements in distribution, transmission networks, billing and collection of revenue.

Represented by the Minister of Labour and Productivity, Chief Emeka Wogu, Sambo pledged the Federal Government’s commitment to creating the enabling environment that would give incentives to private sector investors to take on challenges.

In his address, Delta State Governor, Emmanuel Uduaghan, noted that the handover of Ughelli Power Plc was the greatest thing that had happened to the state in recent history.

He promised the state government’s support to ensure that the plant was quickly turned around.

Babatunde Akinsola
Babatunde Akinsola
Babatunde Akinsola is aNaija247news' Southwest editor. He's based in Lagos and writes on the Yoruba Nation political issues, news and investigative reports

Share post:



More like this

Nigeria Earns $1.2 Billion Annually from Livestock Exports, MACBAN Reports

Nigeria earns approximately $1.2 billion each year from the...

Nigeria Sovereign Investment Authority Awards $220,000 to Top Startups at NSIA Prize for Innovation

The Nigeria Sovereign Investment Authority (NSIA) has awarded a...

Nigeria Says Foreign Exchange Inflows from IMTOs Surge by 38.86% to $1.07bn in Q1 2024

Foreign exchange inflows from International Money Transfer Operators (IMTOs)...

Mercury to Terminate Accounts of Nigerian Businesses and Others by August 2024

American financial technology company Mercury has announced plans to...
× How can I help you?