Abuja — The new 140 megawatts electricity plant being constructed by Geometric power Limited for Aba town and its environs would be ready by September 2007.

When operational, the plant, which is a private-sector initiative, is expected to provide non-interrupted power supply to Abuja. The project, whose cost is put at $125 million, according to Chairman and Chief Executive of Geometrics Power Limited, Professor Barts Nnaji, will run on gas.

Nnaji, who was once the Science and Technology Minister, said the project would be funded through some reputable financial organisations like the International Finance Corporation of the World Bank, and Emerging African Infrastructure among others.

He said the participation of the private sector like his int he energy business of the economy was made possible through Federal Government reform programmes.

Nnaji said the private sector holds the key to growth in the energy sector and commended the Federal Government for recognising this and wooing private participation in the area.

According to him, "our company is one of the children of the present reform programme. We could not be in existence without the reform programme.

"We have built a power plant here in Abuja, it is a small one., only 22 megawatts. It was an emergency power plant for government, but after this, we began to feel that with the reform programme on-coming, we can invest in a private power plant and support government initiative and generate electricity and distribute it," he said.

Nnaji said international investors are excited about the project and that his company was able to bring in financial partners like the International Finance Corporation of the World Bank, European Investment Bank and Emerging African Infrastructures among others.