Abuja Power Project: US to Provide $1.1m for Feasibility Study

By February 12, 2020 Investment News

The US Trade and Development Agency has said it will provide about $1.1m for the feasibility study of a 1,350 megawatts power plant to be built in Abuja.

The USTDA disclosed this on Tuesday at the Nigeria International Petroleum Summit 2020 in Abuja, during the signing of an agreement with the Nigerian National Petroleum Corporation.

The acting Director, USTDA, Thomas Hardy, told The PUNCH on the sidelines of the event that the agency would invest just over $1.1m in the project, saying, “That is what it is going to take to do a feasibility study to prove the commercial viability of the plant.”

He said work would start immediately on the feasibility study.

“It is the investment the US Trade and Development Agency is making, to invest with the NNPC in the development of 1,350 megawatts gas power plant. It will be looking to bring on new power generation in Abuja,” he added.

The Group Managing Director, NNPC, Mr Mele Kyari, said at the signing that the power plant project was aimed at maximising the huge gas resources in the country.

 

Source: Punch