South Korean Firm To Invest $30bn In Nigeria’s Power Sector - Politics - Nairaland
Nairaland Forum / Nairaland / General / Politics / South Korean Firm To Invest $30bn In Nigeria’s Power Sector (611 Views)
Oby Ezekwesili Discredits Ex Minister's Claim That GEJ Left $30bn In Treasury / I Left $30bn In The Treasury For You, Jonathan Replies Buhari / Ex-minister Faults Buhari On Empty Treasury, Says Jonathan Left About $30bn (2) (3) (4)
| South Korean Firm To Invest $30bn In Nigeria’s Power Sector by Nobody: 8:41pm On Jun 01, 2013 |
A South Korean company, High Quality and Marketing Company(HQMC), in conjuction with their Nigerian partners, Samie Holding Limited, is to invest about $30 billion in the next 10 years to produce 10,000 megawatts. President of HQMC, Monn-Sang Kim, stated this before signing a Memorandum of Understanding (MOU) with the Minister of Power, Professor Chinedu Nebo. He stated that HQMC was going to produce 1000 megawatts every year, starting from January 2014 through solar energy. Kim said that the objective of the MOU was the development of megawatts with Battery Energy Storage System (BESS) of electric power generation capacity in Nigeria through the cooperation of the Nigerian government and HQMC. He said: “The projects shall be developed following an Independent Power Producer (IPP) model, whereby a special purpose project company shall be established for each project to facilitate equity investment by the parties and third party investors.” Speaking at the event, Minister of Power, Professor Nebo, stated that Nigeria was very eager for electricity generation, but wanted to work more with producers of renewable energy. Nebo said he was happy that the investment would yield growth and provide jobs and skills for Nigerians. He assured the South Korean investors that he guaranteed them that Nigeria was a good place to invest in. Also speaking, the Managing Director of Samie Holding Limited added that the project was going to spread across the six geopolitical zones. He said: “We would build, operate and transfer this project to the government of Nigeria.” source: http://www.tribune.com.ng/news2013/en/news/item/13234-south-korea-to-invest-$30bn-in-nigeria%E2%80%99s-power-sector.html |
| Re: South Korean Firm To Invest $30bn In Nigeria’s Power Sector by Nobody: 8:49pm On Jun 01, 2013 |
FRESH AIR! |
| Re: South Korean Firm To Invest $30bn In Nigeria’s Power Sector by Nobody: 8:57pm On Jun 01, 2013 |
The problem with some of these MOU is that they remain on paper. I hope this will materialize |
| Re: South Korean Firm To Invest $30bn In Nigeria’s Power Sector by Bigflamie(m): 8:58pm On Jun 01, 2013 |
@ Billyonaire, I'm beginning to feel it  |
| Re: South Korean Firm To Invest $30bn In Nigeria’s Power Sector by Nobody: 8:58pm On Jun 01, 2013 |
Sincere 9gerian: The problem with some of these MOU is that they remain on paper. I hope this will materialize I hope so too. But I would like to see a company that can generate between 5,000 to 10,000mw from a single power plant; just like it's done in some other countries |
(1) (Reply)
Mko Abiola, Susan Rice And A Deadly Cup Of Tea, By Femi Fani Kayode. / We Gave Jonathan Muslim Agenda To Implement –sultan / Snowden’s Worst-case Scenario
(Go Up)
| Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 12 |