BY KUNLE KALEJAYE
ABB, a multinational electric power solution company, has pledged to set up a local manufacturing power equipment plant in Nigeria.
The development is part of federal government’s privatisation objective that will allow both local and international players to invest in the nation’s power sector.
The establishment of the plant is sequel to the recently concluded privatisation of the power sector, and the successful hand over of the privatised assets unbundled from the Power Holding Company of Nigeria (PHCN) to the new owners of the Generation, GENCOs and Distribution companies, DISCOs.
A statement from ABB, said the decision was made known recently by the company in Abuja, during a conference aimed at building capacity for top officials of the Transmission Company of Nigeria, TCN.
At the conference, ABB and TCN were said to have agreed that when established and operational, the local manufacturing plant will readily make available in the Nigeria market power equipment, and will reduce the cost of importing such equipment from outside the country.
The Managing Director and Country Manager, ABB Nigeria, Mr. Nitin Desai, was quoted as saying that the management was giving the plan a serious consideration.
He also said the new manufacturing plant will help develop and optimise electrical power systems in Nigeria, as producing quality electrical products locally will help upgrade power assets in the country.
TCN was said to have noted that there is now an urgent need for ABB to collaborate with all stakeholders in the power sector to bring about better management, automation, and protection.