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Thailand group to invest $2 billion in Nigeria

Posted on: วันอาทิตย์,12 ตุลาคม, 2008

A group of Thai companies made up of Rainbow Energy PTT and Transglobal Energy Funds (TRC) has set aside $2 billion to invest in Nigeria’s energy sector if Federal Government approves investment proposal. They are to invest in power sector, gas, petrochemical, and agriculture.

The Thai company, under the umbrella of Rainbow Power Limited has also pledged to assist the Nigeria Federal Government in addressing the epileptic power generation and supply through construction of 3 new power stations which will generate 1000 mega watts of electricity.

The Thai group met with the VP, Goodluck Jonathan, finance minister, Shamsudeen Usman, Energy minister of state for power, Fatima Ibrahim, they plan to set up a petrochemical company in Brass, build a fertilizer plan in Delta State and 3 new power plants in Ajaokuta, Abuja and Kano that will generate 1000 mega watts of electricity for Nigeria.

Nigeria requires over 10,000 mega watts of electricity, it generates less than 1000 with Federal Government.




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