There are strong indications that two South Korean firms, Daewoo Engineering and Construction Company, and Korea Electricity Power Company (KEPCO), are to lead a consortium of other investors to build two new power plants in Lagos state before the end of this year.

The two companies said they are putting every mechanism in place to pave the way for their investment in the power sector in Nigeria.

The President and Chief Executive Officer of KEPCO, Joong-Kyum Kim, said his company desired to strengthen their investment in the Nigerian power sector.

According to him, the new power plants is another of their bilateral economic commitment with Nigeria including those in the oil and gas sector. 'We have the requisite experience and capacity to participate actively in the development of any facet of Nigeria's energy sector', he said. Before now KEPCO had invested in Egbin power plant in Lagos state.

On their part, Daewoo's President and Chief Executive Officer, Mr. Jong-Uk Seo, expressed confidence and willingness of his company to continue business in the country. According to him, Daewoo has been doing business in Nigeria for the past three decades.

For more: http://lasgidiboy..co.uk/2012/05/kepco-daewoo-head-investors-to-build.html