A Nigerian firm, Buoshishi International limited, says it is ready to build a 300 kilometre transmission line in Cross River State.
The Chairman and Chief Executive Officer of the company, Ambassador Yahaya Mohammed, disclosed this when he led a delegation of the company on a visit to the state governor, Senator Ben Ayade, in Calabar, according to a statement.
Mohammed was quoted as saying, “We were attracted to Cross River State because of the investor-friendly environment the state offers, which has near-zero crime rate and because of the governance style exhibited by Governor Ben Ayade.
He said the company was committed to the partnership and would be willing to work with the state to bring development to the doorsteps of the people of Cross River.
He said, “We have already secured $500m and another $5bn from the Bank of Scotland to assure you of our budgetary capacity, outreach, pedigree and our integrity.
“We are optimistic and serious about executing this project because of the absolute confidence in your state. Not only will we partner with you on power, we are intending to fill the gap in developing the deep seaport too.”
Responding, Governor Ayade enjoined the company to explore current technology in hydropower to generate electricity, adding that the state has 126km of Atlantic coastline.
He said, “You have no business going outside Cross River State because the state has the right environment; it has the right character, the right people, and a governor who comes from a business environment.
“As a state, we actually have 182kVA transmission station from Odukpani to the northern part of the state. However, the transmission route is going through the new 260km superhighway and our concept is to gradually shift the entire state into the superhighway route because that is where all the factories, new cities are being built. So, what you will do is to build this transmission line knowing that most companies are planning to relocate to Cross River.”