The Nigerian National Petroleum Company Limited (NNPCL) has signed a Memorandum of Understanding (MoU) with China Engineering & Machinery Corporation (CEMC), in Beijing, China. The agreement is for the funding of the Gwagwalada Independent Power Plant (GIPP) Phase-1 Project, TheMediaGood Newspaper can report.
The Executive Vice President, Gas Power & New Energy of NNPCL, Mr. Olalekan Ogunleye and Chairman of CEMC Nigeria, Mr. Zhang Daguang, signed the agreement on behalf of their respective companies.
The 350MW Gwagwalada IPP Phase 1 Project is one of the key anchor projects of the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline Project which is in line with Nigeria’s Gas Master Plan infrastructure blueprint.Upon completion, the GIPP Phase 1 Project is expected to improve power generation, create job opportunities, reduce gas flaring, and engender industrial development.