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Concession: FG to earn N647.7bn from power projects, others

The Federal Government is set to earn N647.7 bn from the concession of two power projects, the E-ticketing of two rail routes and a Device Management System.

The two power projects which are the 360 Mega Watts Gurara II Multipurpose Dam and Hydro Power Plant and the 40 MegaWatts Kashimbilla Hydro Power Plant will be concessioned under an operation and Management Public Private Partnership model.

Other projects for concession are; Secure E-ticketing Solutions for the Lagos Ibadan Rail Service and the Warri-Itakpe Rail Service as well as the Device Management System, a project designed by the Nigerian Communications Commission.

According to a statement issued by the ICRC’s acting spokesperson, Ifeanyi Nwoko on Friday in Abuja, the projects will be under the regulatory guidance of the Infrastructure Concession Regulatory Commission.

The Punch reports that the 360MW Gurara II HPP, a greenfield project will adopt a build, operation, maintenance and transfer PPP model under an Engineering Procurement and Construction contract for a concession period of 30 years that will be executed by Messrs. CGCOC Group Co. Limited.

The spokesperson noted that approval for the Kashimbilla 40MW HPP has been granted for the operations and maintenance of the Hydropower Plant by Messrs Mainstream Energy Solutions/KEPL Consortium-Concessionaire/Technical Partner.

Other projects for concession are; Secure E-ticketing Solutions for the Lagos Ibadan Rail Service and the Warri-Itakpe Rail Service as well as the Device Management System, a project designed by the Nigerian Communications Commission.

 

 

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