The Korean firm, HQMC, plans to invest $30 billion in Nigeria’s
power sector in the next 10 years, according to a statement from the Ministry
of Power.
power sector in the next 10 years, according to a statement from the Ministry
of Power.
The Nigerian government at the weekend signed a Memorandum of
Understanding, MoU, with the Korean company on the investment plan.
Understanding, MoU, with the Korean company on the investment plan.
Minister of Power, Professor Chinedu Nebo, said at the MoU signing
ceremony that Nigeria would soon experience a quantum leap in power generation
given the amount of investments so far in the power sector.
ceremony that Nigeria would soon experience a quantum leap in power generation
given the amount of investments so far in the power sector.
He said the addition of 1,000 megawatts, mw, of solar power yearly
for the next ten years will give the nation the required energy mix needed for
sustainable development, adding that Nigerians, all over the country, would
benefit from the project proposed by the Korean company.
for the next ten years will give the nation the required energy mix needed for
sustainable development, adding that Nigerians, all over the country, would
benefit from the project proposed by the Korean company.
Also speaking at the event, the Managing Director of HQMC Korea,
Mr. Moon Sang Kim, stressed on the determination of the company to make a
success of the project.
Mr. Moon Sang Kim, stressed on the determination of the company to make a
success of the project.
