21 February 2013

Nigeria: Elumelu Says Transcorp Will Transform Ugheli Plant

The Chief Executive Officer (CEO) of Transcorp/Woodrock, the successor company for Ugheli Plant bought at the cost of $300 million, Mr Tony Elumelu has expressed the firm's resolve, given its track record of transposition of companies with minimum optimal performance, to turn around the company in the interest of all stakeholders.

According to Elumelu, who was at the signing of transaction and industry agreements for Power Holding Company of Nigeria (PHCN) successor companies held at the Banquet Hall of the Presidential Villa Abuja, the acquisition of the Ughelli Plant will enable his firm to prove its mettle, as it has been meeting global best practices standards in industrial inversion.

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