Guardian
16 March 2011
CORPORATE intrigues may have stalled a strategic move for improved power supply in the country, as the gas-to-power initiative, scripted as part of the industry roadmap, appears threatened by red tapism.
Firstly, Shell Petroleum Development Company (SPDC) is yet to make good its commitment to signing the requisite tripartite agreement with Nigerian National Petroleum Corporation (NNPC) and another firm, Southfield Petroleum Limited.
Also, a seeming reticence on the part of NNPC to enforce the Federal Government’s directive on the project is allegedly adding to the delay.
Equally intriguing has been the award of a $250 million (N37.5 billion) contract to a Korean firm – Deawoo Engineering and Construction Company Limited, through SPDC and NNPC to execute a similar project, for which the country had already secured a Build, Own and Operate (BOO) pact with another company.
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