General Electric (GE) announced that it is going to establish a repair and service plant for power turbines in Nigeria and has invested over $100m in its aim to fulfill the growing demand for gas-fired power plants in Africa’s biggest economy, Reuters reported.
As informed on Financial Nigeria, GE Nigeria’s CEO, Lazarus Angbazo, said that GE plant would be a multi-use facility to support its clients in the power, oil and gas sector, adding that the American company has invested in some local power plants.
Nigeria privatized its electricity sector in 2013, attempting to end decades of blackouts, which have restrained economic growth. Most of the plants it sold were gas-fired, operating below capacity due to inadequate gas supply.
Nigeria holds the world’s ninth largest proven gas reserves at 187tcf. In April 2017, state-oil firm NNPC announced that it is aiming to more than triple gas supply for local use by 2020.
Angbazo said construction work on the plant, which is located in the southeastern Nigerian city of Calabar, is expected to be completed in December 2017.