Egbin Investors Seeking $1.2b for Expansion

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Owners of Egbin Power Plc are looking for about $1.2 billion to expand the power plant by additional 1,500 megawatts (Mw) by 2020, The Nation reports.

The company’s Managing Director and Chief Executive Officer, Dallas Peavey, said on the sidelines of the visit of a delegation of the United States (U.S) congressmen led by Senator Chris Coons to the company that the management has started moves to achieve the expansion of the plant. He said the environmental impact assessment (EIA) and engineering design, among others, had been completed.

He said the management was exploring all partnerships with the United States government, World Bank, International Finance Corporation (IFC) and Transmission Company of Nigeria (TCN), among others, to ensure that power was available to Nigeria. He said: “On the visit of the congressmen, we are working together with stakeholders and partners looking for a better future, how to do things better and especially Nigeria needs power and we need to make it available.”

Source: EnergyMix

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