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Published On: Mon, Jan 26th, 2015

Investment in Egbin power plant now N50bn – FG

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By Etuka Sunday with agency report

A total of N50bn has been injected into Egbin thermal power station since November 2013, when the company was privatised, the Chief Executive Officer, Egbin Power Plc, Mr. Mike Uzoigwe, has said.

He said this in Lagos at the weekend, when the Minister of Power, Prof. Chinedu Nebo, visited the company’s facilities.

Uzoigwe said part of the investment was the rehabilitation of the 220MW steam turbine generator, which had been abandoned for eight years after it went bad.

He said the company was committed to making the units at the plant more reliable, hence the total overhauling and retooling of some of them.

“Since we took over this company, a total investment of N50bn has been committed to our operations,” he said.

According to him, the target is to ensure that the operating units at the plant deliver maximum output so that more power will be made available to the Nigerian people.

According to him, more than 100 of the company’s employees have been sent to Korea for capacity building programmes since November last year.

Nebo, in his address, said Egbin Power had done well in trying to regain lost capacities adding that the company was likely to double its current output in a few years given its level of seriousness.

The minister said the Federal Government would continue to boost the transmission capacity through significant investment.


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