Nigeria’s Transmission Company secures $1.55bn for expansion projects
T he Transmission Company of Nigeria (TCN) says it has secured 1.55 billion dollars from multilateral corporations to finance its transmission expansion projects in the country. The Managing Director of TCN, Mr Usman Mohammed, said this in Kano , while addressing newsmen . He said that TCN had approached multilateral donors to raise significant finance to execute its numerous projects in the country. He said sourcing of fund was also designed to realise TCN’s ambition of increasing transmission capacity by 20,000 megawatts in few years time. He said that the provision of the fund had resulted in the resuscitation of some projects that were hitherto abandoned . “The Abuja transmission project, which is supposed to provide three sub-stations and provide another avenue for supply through Abuja from Lafia, has been completed.” “We have also resuscitated the JAICA project that has been on the drawing board for a long some time now.” “Those two pro...