General Electric Looks to Invest in Nigeria’s Refineries, Power Sector

The logo of General Electric is pictured at the 26th World Gas Conference in Paris, France, June 2, 2015.  REUTERS/Benoit Tessier

A United States multinational company, General Electric (GE), Tuesday, proposed to invest in Nigeria’s three refineries. The three refineries are located in Port Harcourt, Warri and Kaduna

In a presentation to the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baru, and his team in Abuja, the company stated that its teams of partners would be engaged in the initiative. Details of the discussion were contained in a statement by Ndu Ughamadu, NNPC’s spokesperson on Tuesday. The American firm said the team includes its consortium involving Engineering, Procurement and Construction (EPC) partners, off-takers, traders and some financiers.

Leading a high powered delegation to the NNPC Towers, Jeff Immelt, GE Global Chairman and Chief Executive Officer, said as part of the offering, GE and NNPC have identified some major national power projects in the country. He added that the two organisations are currently developing the scope of intervention in the projects which have a potential combined capacity of about 4.4 gigawatts. GE further pledged its readiness to work with the NNPC to make production in the off-shore fields profitable for the benefit of both companies and other stakeholders.

Source: EnergyMix

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