By Musa Adamu
Abuja
Federal government has entered an understanding with a Chinese company, Shandong Power Equipment Co Ltd (SPECO), for the construction of a new national grid system.
Minister of Power, Prof. Chinedu Nebo, who signed for the federal government said, there was no doubt that SPECO had the financial muscle to undertake the project, with a net-worth assets in excess of $300 billion.
He also attested to the fact that SPECO possesses the expertise to make the difference in Nigeria’s quest to build a robust and vibrant national grid.
He said the existing grid line was not competitive enough as the 330KVA currently in use in Nigeria was far below China, India and the U.S that had systems exceeding 1,050KVA transmission capacities.
“As Nigeria is currently at the threshold of the launch of its ambitious National Industrial Revolution, Power would be required to drive it – Industrial Revolution Plan will be dead without Power and Power will be dead without Transmission,” he said.
Earlier, the representative of the Chinese Company – SPECO, Kay Zhang, said the company had what it takes to provide Nigeria with world class Transmission project. He said SPECO was currently serving 1.1 billion Chinese, covering about 88% of China land.