Major multinational General Electric, has said its turbine plant will be ready early next year. Here are key highlights of the plant and GE’s plans for Nigeria:
The plant cost a $100 million dollars and is expected to come on stream next year. The plant is located in Calabar, Cross River state.
GE has also bid for a $2 billion railway contract to connect the Northern and Southern part of the country.
The company has also sought the cooperation of haulage operators regarding the rail project.
GEis one of the biggest conglomerates in the world with operations spanning various areas including Engineering, Oil and gas, Renewable energy, and Finance. The group had revenues of $123 billion in 2016.
The turbine plant will be of great benefit to generating companies (Gencos) who will no longer need to import them from other countries. Several analysts have posited that epileptic power is one of the major reasons Nigerian industries are unable to produce competitively. Most industries are forced to rely on alternative sources of energy like diesel, which come with associated costs.