As part of its strategic thrust for brand building and extension, Transcorp Plc, a leading indigenous conglomerate in Nigeria is on full throttle to accelerate its investments in the country with the berthing of Transcorp Hilton in the Lagos and Port Harcourt, Rivers State.
The company which holds 83 percent in the globally acclaimed Transcorp Hilton Abuja, said by coming to Lagos, its plan is to redefine hospitality standards and give people in Port Harcourt and Lagosians the “Hilton experience”.
Emmanuel Nnorom, President and CEO, Transcorp PLC, who spoke to BusinessDay and a select team of journalists, noted that “We have signed an agreement with Hilton to manage the two hotels.
The reason we are coming to the two cities is because we realize that most of our Hilton Honours’ members usually are at a loss at where to stay when they come to Lagos or Port Harcourt. Hence they are forced to stay in other hotels.
Our brand is world acclaimed. It is easily identifiable for what it stands for – which is the highest standards.”
While the Hilton Hotel in Abuja has an accommodation capacity of 670 rooms, Transcorp Hilton Ikoyi is expected to have about 300 rooms.
Pilling is expected to be completed by May 2016 while the entire project will come on board by 2018.
Transcorp Hilton Port Harcourt has gotten the necessary planning approvals from the Rivers State Government “And we are currently revising our design to optimize the use of the expanded site,” according to the company.
In the meantime, Transcorp Hilton Abuja will be upgrading its entire 670 rooms in the next 18 months.
This is an effort to ensure that they meet up with the current technological trends and innovations.
“The current focus is on the installation of new elevators and procurement of fittings for guests and meeting rooms. In addition, external works on construction of a new access way, warehouse and car park have commenced.”
The company which investment interests spans hotels, agriculture, power generation and oil exploration, is constantly providing its ordinary shareholders a uniquely diversified opportunity to share in Nigeria’s burgeoning economy.
Transcorp has made several important business decisions which will have significant impact on its fortunes.
Some of the strategic initiatives outlined by the President, Emmanuel Nnorom include additional turbines for power generation, increase in the output of the plant from 160 megawatts to 650 megawatts in 2015 and being on track to deliver 850 megawatts of available capacity in 2016.
“Our target is to be responsible for at least 25 percent of the total power generated in Nigeria. Currently, challenges to the actualisation of these goals include but not limited to supply of good quality gas, transmission losses and inadequate evacuation infrastructure and payment of owed debts to Transcorp Power Limited by MBET.
“Despite these challenges, Transcorp Power is determined to forge ahead in the discharge of her primary objectives and in the creation of lasting value for Nigerians at large,” said Nnorom.
Another major highlight in its expansion drive is the signing of production sharing contract for oil block OPL281 between Transcorp and the Nigerian National Petroleum Corporation and the continued preparation for drilling to ensure adequate measures are put in place for seamless production.
The over 300,000 shareholders of the company deserve all the commendation for the support they continue to give the company according to Nnorom.
On his part, Adeoye Fadeyibi, Managing Director of Transcorp Power Limited, commended the federal government for the strategies being put in place to reposition the power sector such as increase in tariff to strengthen the energy sector and ongoing metering processes which aims to resolve the issues of stranded power.
“We have repositioned the Ughelli Power Plant towards contributing significantly to the government’s plan to generate 10,000 megawatts before the end of next year. It is our plan that we will contribute significantly to the energy pool,” said Fadeyibi.
FRANK ELEANYA
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