Concession: FG Reveals Expected Earnings From Power Projects

The Federal Government is set to earn N647.7 billion from the concession of two power projects, the e-ticketing of two rail routes and a Device Management System.

The two power projects which are the 360 Mega Watts Gurara II Multipurpose Dam and Hydro Power Plant and the 40 MegaWatts Kashimbilla Hydro Power Plant will be concessioned under an Operation and Management Public Private Partnership model.

Other projects for concession are: Secure E-ticketing Solutions for the Lagos-Ibadan Rail Service and the Warri-Itakpe Rail Service as well as the Device Management System, a project designed by the Nigerian Communications Commission.

According to a statement issued by the ICRC acting spokesperson, Ifeanyi Nwoko, on Friday, in Abuja, the projects will be under the regulatory guidance of the Infrastructure Concession Regulatory Commission.

The Punch reports that the 360MW Gurara II HPP, a greenfield project will adopt an operation, maintenance and transfer PPP model under an Engineering Procurement and Construction contract for a concession period of 30 years that will be executed by Messrs CGCOC Group Co. Limited.

The spokesperson noted further that approval for the Kashimbilla 40MW HPP has been granted for the operations and maintenance of the Hydropower Plant by Messrs Mainstream Energy Solutions/KEPL Consortium-Concessionaire/Technical Partner.

Check Also

First Product From Our Refinery Will Hit Market July – Dangote

The Chairman of Dangote Group, Aliko Dangote, has said that the first tranche of petroleum …

Buhari, 5 African Presidents To Commission Dangote Petroleum Refinery Today

In an epoch-making event that will positively transform Nigeria’s oil and gas sectoral landscape, President …

21 Facts About Dangote Refinery Billed For Inauguration By Buhari, 5 African Presidents Monday

The completion of the Dangote Petroleum Refinery and Petrochemicals in Lagos State is a groundbreaking …

Leave a Reply

Your email address will not be published. Required fields are marked *