Transcorp, GE Sign Deal On Power

In order to address the infrastructural needs of the country, Transnational Corporation of Nigeria Plc (Transcorp) and General Electric (GE), yesterday signed a framework agreement to work towards the speedy development of the country with emphasis on the power and transportation sectors.

General Electric also confirmed its commitment to facilitate the generation of 10,000MW of additional power in Nigeria over the next decade in line with its existing agreement with the Federal Government of Nigeria, signed in March 2012.

A statement released by GE, shows that the framework agreement, will enable both firms explore a partnership for the refurbishment and expansion of the Ughelli power plant in Delta State.

It was gathered that the framework agreement was signed after a closed door meeting with GE’s global chairman, Jeffrey Immelt, and Transcorp Chairman, Tony O. Elumelu.

The Herald NG

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