General Electric (GE) plans to commission a gas turbine assembly plant in Nigeria next year and has invested over $100 million as it seeks to tap growing demand for gas-fired power plants in Africa’s biggest economy, Independent reports.
According to its local Chief Executive Officer, Lazarus Angbazo, construction work on the plant in Calabar, Cross River State is expected to be completed in December. Operations will start in the first quarter of next year. He explained that GE wants to support the development of Nigeria’s gas reserve which is largely untapped, adding that the U.S. Company has invested in some local power plants.
Nigeria privatised its electricity sector in 2013, aiming to end decades of blackouts which have hampered economic growth. Most of the plants it sold were gas-fired, operating below capacity due to inadequate gas supply. Officials affirmed that demand for gas in the country is estimated to rise to 3 billion standard cubic feet (scuf) per day by 2017, from 1.2 billion scuf per day in 2015, ten times the 300 million of eight years ago.