General Electric and the Federal government yesterday sealed a
$1billion contract to build a manufacturing and assembling plant
in Calabar, Cross Rivers State.

The facility, called ‘Project Emerald,’ will be carried out also with
indigenous Nigerian contractors. The plant will service the oil and gas
as well as power sectors.

Speaking at the signing ceremony, in Abuja, the Minister of Petroleum
Resources, Mrs. Diezani Alison-Madueke said Nigerian content was now
a key part of the execution strategy for every project in the oil and gas
industry.

She said when completed the facility would create at least 2,300
direct and indirect jobs.

She said, “In January of 2013, GE’s Global Chairman, Mr. Jeff Immelt,
made a commitment that GE will invest $1bn in Nigeria over a five-
year period. Of this amount $250m was earmarked for capital
expenditure that will make Nigeria a regional hub for manufacturing,
service and innovation.

“The company also pledged to spend an additional $800m in local
sourcing of goods and services, labour, staff welfare and training. Now
the pivot of this investment was the plan to build a multi modal
manufacturing and assembling facility in Calabar, Nigeria which will
service the oil and gas as well as the power sectors.”

In his response, the Global Vice Chairman, GE, Mr. John Rice, said the
work by his firm in Calabar would fulfill every expectation of
government and would create a model in Nigeria.

GE also announced that Julius Berger Nigeria Plc emerged as the
preferred bidder to build multi modal manufacturing and Assembly
facility in Calabar.

Julius Berger has also been contracted to build a training facility on
the manufacturing site that ensures on-going employee development.

http://www.dailytrust.com.ng/daily/business/41240-fg-ge-sign-n1-bn-deal-to-build-calabar-plant

It is a very welcome development but i hope it doesn't end in signing the deal but also implementing it.

Everyday we hear the news of deals and contracts to boost electricity production, yet no part of this contry can boast of a 48 hours uniterrupted power supply. What a pity.

simplemach:
Everyday we hear the news of deals and contracts to boost electricity production, yet no part of this contry can boast of a 48 hours uniterrupted power supply. What a pity.

DUDE BLAME PAST GOVERNMENT FOR NOT INVESTING IN POWER, IT TAKES TIME BUT GEJ HAVE SET THE WAY SOON THEY WILL BE CHANGES

Rikidony:

DUDE BLAME PAST GOVERNMENT FOR NOT INVESTING IN POWER, IT TAKES TIME BUT GEJ HAVE SET THE WAY SOON THEY WILL BE CHANGES

i hope so

The present government has been in power for over six years do you know?

Rikidony:

DUDE BLAME PAST GOVERNMENT FOR NOT INVESTING IN POWER, IT TAKES TIME BUT GEJ HAVE SET THE WAY SOON THEY WILL BE CHANGES

so what past government did not achieve in over 50 years of our existence can be achieved in 6 year we will surely get there it take time

Good things coming our way

seanet02:
The present government has been in power for over six years do you know?

and has there been no improvement in the power sector

deji68:
so what past government did not achieve in over 50 years of our existence can be achieved in 6 year we will surely get there it take time

[size=13pt]GEJ is not 6yrs in office.
Yar'Adua died in May, 2010.
From then till now is 4yrs and 6months[/size]

na true oo.. Buhari ruled 3,5 years, Ibb 8year, Shagari 4,5 years , Obasanjo 8 years. ....no electricity at least there is improvement under GEJ

Goddex:


[size=13pt]GEJ is not 6yrs in office.
Yar'Adua died in May, 2010.
From then till now is 4yrs and 6months[/size]

Rikidony:

DUDE BLAME PAST GOVERNMENT FOR NOT INVESTING IN POWER, IT TAKES TIME BUT GEJ HAVE SET THE WAY SOON THEY WILL BE CHANGES

Rikidony, FYI this development can largely actually be attributable to the persons of Obasanjo, Imoke, Bart Nnaji and Madame Due Process.

I hold no truck for any of them so hear me out ...

Obasanjo and Imoke launched the NIPP power program under which GE won a mega contract to supply the gas turbines for the various power plants. GE was also awarded the maintenance contracts for these turbines at least for the initial stages of operation. Nigeria craftily inserted a clause requiring GE to build a service facility in Nigeria to carry out servicing on heavy components (rotors & generators typically). The alternative is to ship these components to Dubai or India. I guess Imoke used his clout to ensure Calabar was designated base but IMO it makes sense from a logistical and security perspective.

Madame Due Process had her team scrub the contracts to make sure this commitment was highlighted prominently in the justification for the benefit of State Governors (who approved the NIPP because the funding came from the Excess crude Account).

With the subsequent delays and funding gra-gra during the project implementation, Bart Nnaji held GE to their commitment when additional funding discussions were held.

Believe me, GE would have gotten out of it if they could. They have dragged their feet, the facility should be operational by now.