ABAKALIKI — EBONYI State government, yesterday, signed $1.14 billion contract with foreign partners for the construction of the state’s Independent Power Plant, IPP.

The project, with the capacity of 2,700 megawatts, is expected to be completed within two years. At the ceremony which took place at the State Executive Council meeting at Government House, Abakaliki, the Minister of Power, Professor Chinedu Nebo, said the project would boost industrial revolution of the state and the South East and enhance the development of other sectors of the economy.

The proposed power plant, which is jointly owned by Hodges and Bakers Field and Ebonyi State government at 80, 20 per cent share, would be constructed by a Korean firm.
The plant is to be located at West Bank of Cross River in Oferekpe/Akahuwhu Inyimegu in Ikwo Local Government Area of Ebonyi State.
The Minister of Power, Professor Chinedu Nebo, described the plant as the single largest power plant in the country.

Professor Nebo promised that the Federal Government would give the state necessary assistance to ensure that the project was actualised and commended Ebonyi State government for its visionary leadership.

Governor Martin Elechi said the project would increase the income stream of the state by N40 billion every year to accelerate the development of the state.
He commended the Minister of Power and development partners for their cooperation to ensure the realisation of the project.
Chief Executive Officer, Ebonyi Independent Plant, Mr. Terry Moreland, and the representative of the firm constructing the project, Mr. KES Sion, assured of their commitment to ensure the completion of the plant.






Source: http://www.vanguardngr.com/2014/09/ebonyi-signs-1-14bn-contract-construction-ipp/#sthash.C68kyhS5.dpuf

which year would it be completed?

How can a govt have a JV of $1.14bn with a fictitious company-hodges and bakersfield? What's their track record? This company doesn't even have a website.. Just Facebook. What's the name of Korean company to construct this project? Naija govt deceiving folks since 2000BC!

adconline: How can a govt have a JV of $1.14bn with a fictitious company-hodges and bakersfield? What's their track record? This company doesn't even have a website.. Just Facebook. What's the name of Korean company to construct this project? Naija govt deceiving folks since 2000BC!

^^^Let's be the ones to worry about that! Mention was made of a number of partners involved in the venture. So you think it's not possible that a wholly new company was setup solely for this venture; to take care of the different joint-venture partners and better manage the project!

Is this going to be a gas-fired plant; and if so, where will the gas be sourced from?........Anyone know?

nairamaverick: which year would it be completed?

^^^They said the project will take about two years to complete!

IGBOSON1:

^^^Let's be the ones to worry about that! Mention was made of a number of partners involved in the venture. So you think it's not possible that a wholly new company was setup solely for this venture; to take care of the different joint-venture partners and better manage the project!

Is this going to be a gas-fired plant; and if so, where will the gas be sourced from?........Anyone know?

JVs can be formed, but by partners who have proven track record. JV equity from Ebonyi is about N40bn- 40% of their annual budget. It runs a budget of less than N100bn. Where is the money coming from? Who is backing the fictitious company? How come no Naija Banks,ADB, IFC, World Bank, GE, ABB are mentioned? Who are their technical partners?

Ebonyi oooo, elechi shud develop that state and make it the talk of the town. Poverty is looming in that state, women are doing jobs that are to be done by men. He shudnt waste money on some power plant project. but rada develop the local production of rice and create a company that will be the envy of dangote.

interesting, but some people go eat part of money.

This is supposedly a good development.

However, I am wary of governors that suddenly wake up and start signing billion naira projects when they have a few months to go.

good

Finding solution to your power problem. Good step.

Good development.
But this coming just when the tenure is about ending, they tryna pull the 'Goodman stunt' on the good people of Ebonyi state again.
We knw better.

Okay... we don hear

the poorest, least developed southeast state with the dirtiest state capital..

maybe dis will help dem sha

***ochudo u re d oldest governor, pls put ur experience to work and liberate ur state.***

constructing mega project is easy but the way we maintain them remain the unanswered question. Good one but again how soon will the project br completed.

6 months to leaving office, the sleeping governor signs a $1bn contract with a company that cant even boast of a website.

Every rundown blogger has a website

Ordinary website that can be done for $100.

Naija politicians no dey try at all, if dem wan chop our money dem no even dey pretend, To spend $200 do website out of the $1bn dey hard dem. So the maximum we can get from a company that won a $1bn contract is a facebook page.

Animal in human skin, Animal dey wear agbada, Animal dey put on suit o

We hope the project comes into fruition. The present Govt.has less than six months to go.

Ebonyi state is the least developed in the southeast. I don't see how a billion dollar power project can improve the lives of Ebonyi people. A contract coming at this time is rather suspicious. It is not worth celebrating.

berem: Ebonyi state is the least developed in the southeast. I don't see how a billion dollar power project can improve the lives of Ebonyi people. A contract coming at this time is rather suspicious. It is not worth celebrating.

I didn't see u in the other thread of lagos debts or u didn't see that one? Smh

sincerely
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I didn't read the post

This state has not been in the news for so long. Now the state appear for a good reason.

...Another means of looting my poor state.

Though a good foresight bt why shld it be towards d end of ur tenure?


Ebonyians kaa!

Few months 2 the end of his tenure,he is signing contract 4 construction of IPP..hope he isn't trying 2 cover up some mess in his govt,cos ebonyi is a state where there is full blown poverty.This is a gud news but I doubt all this governors signing million dollars contract b4 the end of their tenure..keeping fingers crossed

ok o

Nice development but why is it when he is about to leave office he knows he was going to sign $1.14bn Contract For Construction Of IPP, if he genuinely wanted to do it he would have done it since not when he is leaving office. I just pray it's not a scam project he wants to use to loot more money before he leaves office.

It is a welcome development if it is not a scam project.

Some folks are asking how it will benefit the people. This question sounds ridiculous. The state government will generate revenue by selling the electricity and the people will have steady and efficient power to run their businesses.
If all states can at least produce 1,000 megawatts, the country will generate more than 36,000 megawatts.

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