We Will Surpass Installed Capacity Of Newly Acquired Afam Power – Transcop Chairman
Transcorp Plc Plc have sealed the acquisition of 1000 megawatts of electricity from the sale of FGN’s 100 per cent equity in Afam Power Plant for N105bn.
The Chairman, Transcorp Nigeria Plc, Tony Elumelu announced this via his Twitter handle on Friday.
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He stated that the group will surpass the installed capacity of Afam Power and significantly improve the plant to generate more electricity and prosperity for Nigerians.
He said, “My team @TranscorpPLC and I yesterday sealed the acquisition of 1000MW of electricity from the sale of FGN’s 100 per cent equity in Afam Power for N105bn”.
“As we have done with the Transcorp Ughelli Power Plant which we acquired in 2013, we will surpass the installed capacity of Afam Power and significantly improve the plant to generate even more electricity for Nigerians and power our people to prosperity.”
The investment according to the Chairman will serve as source of job creation and mass economic empowerment for Nigerians.
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Elumelu added, “This investment of N105bn in the Power sector will help to create jobs for our youths, eradicate poverty and drive mass economic empowerment.
“I thank President @MBuhari & @ProfOsinbajo for their strides in promoting the development of the power sector and the resulting local investments. There is no better or more powerful signal to foreign investors.”
