Source: Daily Trust (Abuja)

By Hamisu Muhammad, Abuja

Aqua Energy - a Norway based electricity firm will invest N252 billion to revamp the dilapidated hydro dams located in Shiroro and Kainji dams in Niger state.

The firm said it is ready to invest about $2 billion (about 260bn) in the first phase of the project within eight years and expand it to over $3 billion over a period of 10 years.

The management of the company led by its vice-chairman, Mr. Terence Modebe and the managing director, Mr. Ole Imsland, who presented their proposals to the government through the Nigerian Investment Promotion Commission (NIPC), yesterday said their mission is to produce the most affordable and efficient hydro electric power in Nigeria in the most effective way.

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Posted by pichu at January 25, 2007 10:51 PM