…Targets Southern, East African markets

By Nkiruka Nnorom

Oando Plc has said that it has secured federal government’s approval to build a 500Mega Watts, Mw, power plant in Kwale, Delta State that will cater for additional 20 per cent of the nation’s power needs.

This, according to the company, is in addition to an existing stand-by 500MW power plant in Kwale that supplies power to the nation in case of any national shut down.

The company also said that it plans to diversify its market and increase its presence in the Southern and East African regions, adding that it would undertake capital increase during the year .

Addressing stockbrokers at the company’s Facts Behind Figures, FBF, presentation at the Nigerian Stock Exchange, NSE, the Group Chief Executive Officer, Oando Plc, Mr. Wale Tinubu, noted the company also has approval to develop a direct 22 KV line to Enugu, and assured that the projects would be delivered by Q1, 2019.

“The logic is that there will be additional 20 per cent power for the country. It is one of the most significant power plants in Nigeria. We have enough plants to satisfy the country, but we lack transmission and gas infrastructure. By June 30, this year, we will make formal announcement to commence development of the plant. It is a brown field and it’s located side by side our plant in Kwale,” he said.

Tinubu revealed that Onado has equally received the go ahead from the government to repair, operate and maintain the Port-Harcourt refinery together with its partner – Agip. He said Oando ius working the final details and the contract would be signed by July this year. You will see substantial investment coming from us to take the refinery from its current 30 per cent capacity utilization to 100 per cent capacity utilization at he first insatnce and then to 120 per cent capacity utilization, Tinubu said.

“With the gradual decline in pipeline disruptions, increased efforts by the government to curb security issues in the Niger Delta, and an upturn in oil prices north of $50, the sector is optimistic of a near term recovery .The plan is to go from 60,000boedp by the last quarter 2017 to 80,000 in 2018 and hopefully 100,000 barrel a day mark by 2020,” he added.

He observed that the deleveraged its balance sheet through the divestment of its upstream services company Oando Energy Services and embarked on the expansion of its retail and gas footprint through a strategic partnership with Helios Investment Partners and Vitol Group to recapitalize its downstream business for US$210 million and the US$115.8 equity buy-in of its Gas and Power business by Helios Investment Partners.

Read more at: http://www.vanguardngr.com/2017/05/oando-secures-fgs-approval-500mw-power-plant-kwale/

Front Page: dominique lalasticlala Mynd44

Good one

One day one day we will get there

All we need is perseverance and dedication

This is great news I always love private sector developments. I can trust their self interest in this regard. Anyway 500 MW in Delta. Then they talking about fixing Portharcourt Refinery bringing it to 120% capacity.

I like the idea that they will send the power to enugu state(though i envisage some opposition from the host communities), which means that Nestoil will retain all the 450MW(1st phase) of power that they will generate at okija, 100% in anambra state. Igboland will soon be getting 247 power while the 'sophisticated' region continue to keep themselves in darkness with their notorious witchcraft.

nonsobaba:
I like the idea that they will send the power to enugu state(though i envisage some opposition from the host communities), which means that Nestoil will retain all the 450MW(1st phase) of power that they will generate at okija, 100% in anambra state. Igboland will soon be getting 247 power while the 'sophisticated' region continue to keep themselves in darkness with their notorious witchcraft.

Smh. You people and your mindless hatred. The SW already hosts power plants with a combined installed capacity to generate over 3000MW of electricity at Egbin, Olorunsogo and Omotosho. I don't know why you can't just simply be happy at what Oando is doing and move on, without spewing your signature bile. Bitterness is a slow killer.

nonsobaba:
I like the idea that they will send the power to enugu state(though i envisage some opposition from the host communities),

Why would they care about the use of the transmission line? If they don't like what exactly are they going to do about destroy the line.

Blue3k:


Why would they care about the use of the transmission line? If they don't like what exactly are they going to do about destroy the line.

They stopped Agip from building a line to Obosi after completing its own power plant in kwale(450mw) until Agip built a step down for them and allocated some MWs of power to the residents of the area free of charge. They will also come for Oando when the time is ripe.

RockHard:


Smh. You people and your mindless hatred. The SW already hosts power plants with a combined installed capacity to generate over 3000MW of electricity at Egbin, Olorunsogo and Omotosho. I don't know why you can't just simply be happy at what Oando is doing and move on, without spewing your signature bile. Bitterness is a slow killer.

mtcheeewwww

alaoji plant in Aba has more dan that

nonsobaba:
They stopped Agip from building a line to Obosi after completing its own power plant in kwale(450mw) until Agip built a step down for them and allocated some MWs of power to the residents of the area free of charge. They will also come for Oando when the time is ripe.

but i heard imo is equally constructing their own

nonsobaba:
I like the idea that they will send the power to enugu state(though i envisage some opposition from the host communities), which means that Nestoil will retain all the 450MW(1st phase) of power that they will generate at okija, 100% in anambra state. Igboland will soon be getting 247 power while the 'sophisticated' region continue to keep themselves in darkness with their notorious witchcraft.

As if Oando is not owned by Wale Tinubu a Yoruba Man, you think we are bigots like you people.

IgboAmakaa:


mtcheeewwww

alaoji plant in Aba has more dan that

LMAO. OK ma (in your deluded mind, when Egbin alone has more capacity than Alaoji). Anyway, I am in no mood for your usual crap.

RockHard:


LMAO. OK ma (in your deluded mind, when Egbin alone has more capacity that Alaoji). Anyway, I am in no mood for your usual crap.

but do u know alaoji plant...no insult pls

IgboAmakaa:


but do u know alaoji plant...no insult pls

Yes, I do.

RockHard:

Yes, I do.

ok bye

Blue3k:
This is great news I always love private sector developments. I can trust their self interest in this regard. Anyway 500 MW in Delta. Then they talking. I about fixing Portharcourt Refinery bringing it to 120% capacity.

You are a Patriot Bro. Keep it up!!

Nigeria shall be great!

Man this thread got dumb fast . Arguing about plant capacity that can be googled. Nobody seems interested about claim about bring PHC refinery to 120%. My last post about Ajaokuta plant 25mw all the wailers came in full force complaining it only 25 MW for 3 pages.

Change is good.
The APC Government realizes that if they do not perform, they will have a hard time winning re election. That is why most of the laudable projects / achievements are targeted towards completion on or before 1st quarter of 2019.

God go help una to deliver o. We pray for your success as your success is Nigeria success. No sentiment, just service delivery to uplift the society standard of living. That is what governance should be about.

deji15:


You are a Patriot Bro. Keep it up!!

Nigeria shall be great!

Lol I'm just not in wailing or hailing. I go case by case with these topics. I do agree Nigeria has potential as long the right polices in place.

that would be very commendable if achieved.. wish all other states would follow suit.

nonsobaba:
I like the idea that they will send the power to enugu state(though i envisage some opposition from the host communities), which means that Nestoil will retain all the 450MW(1st phase) of power that they will generate at okija, 100% in anambra state. Igboland will soon be getting 247 power while the 'sophisticated' region continue to keep themselves in darkness with their notorious witchcraft.

thinking u guys claim to be righteous Christians really freaks me..

hate filled infested people.
frustration had really eaten ur sense of reasoning.. celebrating 450 MW like seriously..
its not 247!! its 24/7.

grow ur asss up