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Nigeria says GE signs $10 billion power plants MoU
Category: Power
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Monday March 26, 2012
General Electric Co has signed a memorandum of understanding with Nigeria to invest $10 billion in new power plants for Nigeria in which it will take a 10-15 percent equity stakes, a power ministry spokesman told Reuters on Monday.
The spokesman said GE would be "partnering with the government and the power sector partners," in a deal that will go ahead after privatisation of Nigeria's dilapidated and woefully inadequate power sector goes ahead.
Source: Reuters
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