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HomeNewsNASENI, Chinese firm to build N4bn transformer manufacturing plant

NASENI, Chinese firm to build N4bn transformer manufacturing plant

THE National Agency for Science and Engineering Infrastructure (NASENI) in partnership with the China Great Wall has planned to build a state-of-art transformer manufacturing plant in the country. The project is to gulp N4 billion.

The two firms have already signed a Memorandum of Understanding (MoU) at the instance of the Federal Government and the Chinese Great Wall Corporation in 2013 on establishment of the transformer manufacturing plant in Okene, Kogi State at the permanent site of the Power Equipment and Electrical Machinery Development Institute (PEEMADI), one of NASENI development institutes.

Speaking yesterday in Abuja when he led officials of Chinese Great Wall Corporation, China Railway Corporation, Huaye Group and Bank of China for a facility tour of NASENI Headquarters, Chinese Great Wall Corporation spokesperson, Mr. Ao Pei Yong, said the Nigeria project, when completed, will be the second largest transformer producing plant in Africa.

According to him, the visit was basically to achieve two things: the process of setting up the transformer manufacturing plant and the initiation of China Railway project manufacturing processes in the country, adding that the visit was also to ensure that the harmonization of government regulations and policies on all related issues were carried out.

“We guarantee to establish everything on transformer and transformer-making machines in this collaboration and promised that we will work together to achieve everything as specified in the MoU” he said.

On the overview of the MoU, Ao Pei Yong said that the transformer manufacturing project covers electric power and distribution, power transformer as well as high voltage testing laboratory. “Once this project is completed, Nigeria will have the capacity to achieve a Nigeria brand of transformer, not only for self-sufficiency, but the country can export it to other parts of Africa.” He, however, noted that the project should be completed not later than three years.

On the role of Bank of China, he said, “the bank can give financial backing in form of loan and financial advisory support to the project. Bank of China interest rate is lower and also its operations meet financial requirements of Nigeria. They can also give us as far as 10 years moratorium for financial loan. So I think the budget cannot be a problem, Bank of China is a strong supporter.”

In his presentation, the Executive Vice Chairman of NASENI, Mohammed Sani Haruna,said that Nigeria cannot continue to assemble only the power modules but must upgrade to local production to provide efficient power supply services for the nation.

He stated that despite the delay on the Part of Nigeria after the signing of MoU with China Great Wall in 2013, the Chinese government has been patient to assist in reviewing the facilities offered to Nigeria in respect of the project.

The NASENI boss said he was optimistic that the project would not only assist in generating steady power supply in the country, but also enlist Nigeria as one of the few countries in the world that has transformer manufacturing plant.

source: The Sun



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