M a r k e t N e w s
Nigeria: Construction of 550 Megawatts Power Plant to Begin in June
Posted on : Tuesday, 29th March 2016
Handlers of the 550megawatts (mw) Independent Power Plant (IPP) in Ondo State said the construction activities will begin by June this year as the Nigerian Electricity Regulatory Commission (NERC) has issued a licence for it.
The plant will be built and operated by the Ondo State Government and its partners, Kingline Development Company, a South Korean Company.
Kingline Head of Nigeria Operations, Engr. Akinnola Fola who disclosed this in Abuja said the construction of the plant would commence by June. "The project is in the final stage before achieving finance close," he stressed.
The state last year sealed an Engineering, Procurement and Construction (EPC) contract with POSCO E & C of South Korea for the first phase of the proposed 1,100mw IPP project
The gas-fired open cycle plant on completion, will sell its 550mw generation to the national grid while it expects another 550mw in the phase 2.
The construction is expected to take about 26 months from commencement and date of issuing the Notice To Proceed (NTP), while POSCO will supply the turbine and other engineering works,
Source : allafrica.com
