Egbin Investors Seeking $1.2b For Expansion

Egbin Investors Seeking $1.2b For Expansion

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.”

THE Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) said that the entry of Nigerian Independent Petroleum Company (NIPCO) into the cooking gas market has broken the monopoly of International Oil Companies (IOCs) through their affiliates in Nigeria. Mr Nosa Ogieva-Okunbo, the association’s President, disclosed this during a courtesy visit to NIPCO management in Lagos. According to him, major marketers hitherto had almost total control of the LPG business prior to the entry of the company in 2009. He said that the pattern of the domestic gas business was fast changing with more sourcing avenue for LPG marketers. The president said that NALPGAM, as an important value chain in the LPG distribution process, appreciated the contribution of NIPCO in the chain and would forever be grateful to the organisation. According to him, the company’s recent expansion project, which will make it the biggest LPG plant in Nigeria, will definitely have a positive impact on storage and availability of LPG in the domestic market. Ogieva–Okunbor noted that as a key stakeholder in the business, it was imperative for the company to associate with a market leader like NIPCO, to encourage its investment drive and grow LPG sector in Nigeria.

Read more at: https://www.vanguardngr.com/2017/09/nipco-breaks-monopoly-cooking-gas-business/
THE Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) said that the entry of Nigerian Independent Petroleum Company (NIPCO) into the cooking gas market has broken the monopoly of International Oil Companies (IOCs) through their affiliates in Nigeria. Mr Nosa Ogieva-Okunbo, the association’s President, disclosed this during a courtesy visit to NIPCO management in Lagos. According to him, major marketers hitherto had almost total control of the LPG business prior to the entry of the company in 2009. He said that the pattern of the domestic gas business was fast changing with more sourcing avenue for LPG marketers. The president said that NALPGAM, as an important value chain in the LPG distribution process, appreciated the contribution of NIPCO in the chain and would forever be grateful to the organisation. According to him, the company’s recent expansion project, which will make it the biggest LPG plant in Nigeria, will definitely have a positive impact on storage and availability of LPG in the domestic market. Ogieva–Okunbor noted that as a key stakeholder in the business, it was imperative for the company to associate with a market leader like NIPCO, to encourage its investment drive and grow LPG sector in Nigeria.

Read more at: https://www.vanguardngr.com/2017/09/nipco-breaks-monopoly-cooking-gas-business/

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