3 February 2013

Nigeria: Transcorp and GE Sign Partnership Agreement On Power

Lagos — Transnational Corporation of Nigeria Plc (Transcorp) and General Electric (GE) have signed a framework agreement to partner in addressing the infrastructural needs of Nigeria with emphasis on the power and transportation sectors.

GE confirmed its commitment to facilitate the generation of 10,000mw of additional power in Nigeria over the next decade in line with its existing agreement with the Federal Government of Nigeria (FGN), signed in March last year .

The framework agreement, which was signed following a closed door meeting with GE's global chairman, Jeffrey Immelt and Transcorp Chairman Tony Elumelu in Lagos will enable GE and Transcorp explore a partnership for the refurbishing and expansion of the Ughelli power plant in Delta State.

The wide ranging agreement allows for the provision of technical support and equity investment in the power plant.

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