Chinese Company set to Invest $12bn Into Electricity Transmission in Nigeria

A Chinese company, State Grid Corporation of China (SGCC), has said it will fund up to $12 billion in electricity transmission projects that will be built for the Transmission Company of Nigeria (TCN) through the Niger Delta Power Holding Company (NDPHC) Limited in the phase two of the NIPP.

SGCC is the the largest state-owned electricity utilities company in the world, which transmits and distributes power in China, has offered to offered to invest first $8 billion and then $4 billion later as equity and loan participation in key electricity transmission projects in the second phase of the National Integrated Power Projects (NIPP).

The information was contained in a status report on Nigeria’s power sector, which was presented by the NDPHC to the government of President Muhammadu Buhari that SGCC had made the offer in consortium with its other partners, CET Power and Westron.

Source: Nigeria Bulletin

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