FG approves N40bn for new power projects

FG approves N40bn for new power projects

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Written by Leon Usigbe, Abuja Thursday, 04 November 2010

THE Federal Executive Council (FEC) has approved new power sector contracts worth N40 billion as government seeks to intensify the realisation of the short and medium term power strategies of the present administration.
The approval, which came during the weekly meeting of the council presided over by Vice-President Namadi Sambo at the State House, Abuja, on Wednesday, has naira components of about N20.7 billion for the purchase of various power transmission equipment as well as dollars and pounds  sterling components, totalling about $11.7million and £3million respectively.
According to the Minister of Information and Communications, Professor Dora Akunyili, who briefed State House correspondents after the meeting, the specific projects approved by the council included the design, manufacturing and supply of two 300MVA 330/132/33KV power transformers with accessories and spare parts at a cost of $5,421,300 plus N168, 687,544.41.
It also includes  design, manufacture and supply of four 100MVA 132/33 KV power transformers complete with accessories and recommended spares, at a cost of $2,927,760 million plus N88, 496,464,59 million.