Nigeria: Eta-Zuma Group to invest $6bn in electricity generation and supply
(Ecofin Agency) - Eta-Zuma Group West Africa Limited plans to invest $6bn to boost electricity generation in Nigeria, announced Chairman of the company, Innocent Ezuma, during a press briefing in Abuja on Friday.
According to Ezuma, the company plans to boost power supply in the country by 1, 600 MW of which 1,200MW would be generated from coal, which is already being mined by the company in Kogi State. The remaining 400MW would be generated from gas.
The Executive Director added that a licence had been acquired from the Nigerian Electricity Regulatory Agency (NERC) in this framework.
“The Eta-Zuma Group and its sister-client companies have invested over $300m so far in various projects even though they are still in their development stages. The 1,200MW coal-to-power will require about $6bn to actualize”, the official highlighted.
He noted that though 90% of the work in development stages had been completed, the remaining agreements would be completed before the year runs out to enable the commencement of the actual construction of the coal-power-plant.