Contrary to earlier reports, General Electric (GE) plans to launch a repair and service plant for power turbines. News outlets had reported that Generic Electric was about completing work on its gas turbine plant which will be ready early next year.
However, an email by General Electric confirmed that it was indeed a repair and service plant for power turbines that was launched at a cost of over $100 million.
The plant will help aid the growing demand for gas-fired power plants in Nigeria. Here is what we know about the plant.
- Country rep, Lazarus Angbazo said the GE plant would be a multi-use facility to support its clients in the power, oil and gas sector, adding that the U.S. company has invested in some local power plants.
- Construction work on the plant, located in Calabar, is expected to be completed in December.
- Operations is expected to commence in the first quarter
GE is one of the biggest conglomerates in the world with operations spanning various areas including Engineering, Oil and gas, Renewable energy, and Finance. The group had revenues of $123 billion in 2016.
The turbine plant will be of great benefit to generating companies (Gencos) who will no longer need to import them from other countries. Several analysts have posited that epileptic power is one of the major reasons Nigerian industries are unable to produce competitively. Most industries are forced to rely on alternative sources of energy like diesel, which come with associated costs.
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