Tuesday, March 29, 2011

Nigeria: Brazilian Investor Offers U.S.$100 Billion for 23 Power Plants

This Day
28 March 2011

Nigeria: Brazilian Investor Offers U.S.$100 Billion for 23 Power Plants

As 331 local and foreign companies submit Expressions of Interest (EoIs) to the Bureau of Public Enterprises (BPE) to acquire majority stakes in Nigeria's electricity infrastructure, a Brazilian investor has proposed $100 billion to take over majority stakes in the entire 23 power plants slated for privatisation under the ongoing reform of the power sector.

On the transmission side, Power Grid Corporation of India Ltd (PGCIL) said it would submit a revised offer for the management of Nigeria's electricity grid to be constructed at a cost of $3.5 billion.

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