Ayade to Ensure 24-hour Power Supply in Calabar,
its Environs
Determined to ensure a 24-hour power supply in
Cross River State, the state Governor, Senator Ben Ayade, has signed a Memorandum
of Undermining (MoU) with SkipperSeil Limited of Dubai, United Arab Emirates.
The MoU was the highlight of a three-day Middle East
Electricity Exhibition which took place in Dubai.
According to
the MoU, SkipperSeil is to establish a solar farm to produce 100 megawatts of
electricity for the state.
Besides providing a bankable land as equity, the
state government is also expected to make available $1 million to kick start
the pilot scheme, while SkipperSeil, on its part, is to invest $15 million in
the project.
In line with the MoU, it was learnt that the state has a 30
percent stake in the business, while the investors controls 70 percent holding.
Accordingly, Ayade signed the MoU on behalf of the
state while Sachdeva signed on behalf of his firm.
During the signing ceremony, the governor expressed
the hope that apart from guaranteeing 24-hour electricity supply to Calabar and
its environs, the project would also generate massive employment and boost its
internally generated revenue.
Meanwhile, a survey team from SkipperSeil has arrived
in the state to identify suitable location for the project.
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