NIPC Attracts N227 Billion For Power, Road Construction At Dubai Expo
The Nigerian Investment Promotion Commission (NIPC) has said Kalpataru Power Transmissions Limited, India, has promised to invest over $547 million (N227 billion) on two projects in Nigeria.
The commission said the investment pledge was secured at the just concluded Invest-In-Nigeria UAE Roundtable which took place in Dubai, UAE.
In a statement, the commission said the investment would be a Public-Private Partnership (PPP) that would birth the construction of a 132kv transmission line for $47m (N19.5bn) in Borno State and an 88km road for $500m (207.8bn) in Ondo State.
The statement reads in part: “The roundtable which was attended by about 30 C-Level UAE investors, six state governments (represented by CEOs of their investment promotion agencies or investment companies) saw other interests in the agribusiness sector, particularly in product trading and agro-processing, which are expected to further translate into investment.”
Also, the acting executive secretary of NIPC, Mr Emeka Offor, unveiled 19 agribusiness and infrastructure projects and took investors through Nigeria’s investment environment, stating that NIPC was on hand to assist investors to navigate any challenge that they might encounter while venturing into the country.
Source: dailytrust
