In response to the massive demand for increased power transmission and distribution in Nigeria, Western Sahara Transmission Company Limited was birthed Wednesday, from a partnership between Symbion Power, an American electricity generation company, Jyoti Americas and Nigeria’s Iroko Capital Partners.
The partners are bringing together their combined experience of doing business in Africa and other developing countries, together with their knowledge of the entire power delivery value chain which will include design, engineering, tower testing, tower manufacturing and construction.
According to the partners, Western Sahara is aiming to build Nigeria’s first state-of-the-art transmission tower manufacturing facility, with capacity to produce 50,000 tonnes of galvanised steel lattice transmission towers per year, which will displace the nation’s current reliance on expensive imports.
The company will be engaged in the entire power delivery value chain (including design, engineering, tower testing, tower manufacturing and construction) and will be fully equipped to handle transmission and distribution projects of any scale.
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Speaking in Lagos, the visiting Symbion’s Deputy Chief Executive Officer, William Olukoya, explained that Western Sahara is an indigenous company backed by experienced international players that would be primarily managed and staffed by Nigerians.
Also, the Chief Executive Officer, Jyoti Americas, Dr. Deepak Lakhapati, said the partnership would be his organisation’s sixth tower manufacturing and power transmission solutions facility, saying, “we are proud that it will be in Nigeria”.
“When President Obama announced Power Africa during his visit to Tanzania last year, he said one goal would be to bring electricity to 20 million homes and businesses. Nigeria is a country of 170 million people and the largest economy on the continent, yet most people don’t have access to electricity. We hope to change that.” He revealed.
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He further added that the new company will make significant contribution to achieving this target by producing the towers and the lines that will literally light up millions of new consumers. “We want Western Sahara to rapidly become Nigeria’s leading transmission solutions company. We believe our strategy will allow us to be competitive against international companies bidding for work in Nigeria,” Lakhapati added.
On his part, the Managing Partner of Iroko Capital Partners, Ken Ofulue, described the development as an exceptionally important step forward for Nigeria’s electrification programme as well as a testimony to the fact that Nigeria is a great investment destination.
Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, expressed delight, over the creation of the company.
“This Western Sahara initiative further demonstrates the confidence of global industry leaders and investors in Nigeria, especially coming after the recently concluded World Economic Forum on Africa (WEFA),” he said.
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1 comments
Sybian collaborate with other company in Nigeria came at the time Nigeria electricity supply number one problem for economic growth . Infact many company depends on generators for operation.24/7,and eat up profit oeveryday with no ending at sight.The companies decision to choose Nigeria not surpring and its applauded from economic standpont.Urging more foreign investors to take advantage of the massive untapped opportunity in Nigerin as the country taken over from South Africa and now the largest economy powerhouse of the continent.More than two third west africa economy control by Nigeria,The only country in the globe where profit on investment can declare after few year commencement.On the issue of insecurity, the country is facing insurgence in the northern part of the country and it was self inflited wound northern political elite caused and now buemenrang against the region.By the time nigeria witness stable electricity supply the GDP may easily hit double digit figures annually,and the country economy may grow faster than Asia in the 90s. No wonder Nigeria leading in FDI and the trends tends to continued. The GEJ administration had perform so well but more is expecting,mostly in the fight against corruption which the government had failed to deal with.The dividend of democracy having impact in the country though not perfect.