Nigeria, S/Korean Firm Sign Pact On Power Generation
Nigeria, S/Korean Firm Sign Pact On Power Generation 
Published on Jul 6, 2012 by pmnews · No Comments
By Henry Ojelu
As partial of efforts to tackle a epileptic energy supply in a country, The Minister of Power, Prof. Barth Nnaji, has pronounced that a Federal Government has sealed an agreement with a South Korean firm, Daewoo Engineering and Construction Company Limited, to beget 10,000MW electricity.
Daewoo Engineering and Construction Company is one of a largest construction companies in South Korea.
A matter from a method done accessible to Business World quoted a apportion as observant that Daewoo underneath a terms of a Memorandum of Understanding will deposit 20 per cent equity in several engineering and construction services in a energy sector.
The matter remarkable that a plan when finished will significantly urge a epileptic energy conditions now being gifted opposite many tools of a country.
The matter serve hinted that Daewoo is to yield 20 per cent equity in a several projects listed in a scheme, as good as offer consultant recommendation and superintendence on electrical, prolongation and construction of energy projects to meddlesome companies.
Nnaji was also quoted as observant that a Nigeria supervision with a agreement it enter with Deawoo has altered a aged use where contractors usually govern plan and leave.
He pronounced a agreement compelled a South Korean Company to not usually govern contracts, though deposit in a energy sector.
The Chairman of Daewoo Engineering and Construction, Chief Joseph Penawou, voiced pleasure in a deal.
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