BusinessDay

Geometric Power will turn around the economic fortunes of SE -Ikpeazu

Governor Okezie Ikpeazu of Abia State has described the Geometric Power project as the “fulcrum upon which the industrial development of Aba, Abia and the South East will revolve.

Ikpeazu stated this Wednesday, during an inspection tour of facilities at the Geometric Power Project at Osisioma Industrial Layout, Aba.

According to the Governor, “two years from today, the story of economic development in Aba and Abia State will take a completely different turn. Things will never be the same again around here and anyone who hasn’t concluded plans to have a presence here is already late”.

Governor Okezie Ikpeazu assured Barth Nnaji, a professor and former minister of Power, the promoter of the independent power project that the State Government will promptly construct the road leading into the plant.

Nnaji, chairman/CEO of Geometric Power Limited in company of his wife, while guiding the Governor on the facilities at the plant, thanked him for his consistent support, which led to the revival of the project.

Read also: Geometric Power seen boosting real estate investment in Aba

He recounted how the governor stood by the company and travelled with him to meet with different international institutional investors, providing the requisite support from the host state Government.

According to Nnaji, this project wouldn’t have seen the light of day without the support of Governor Okezie Ikpeazu. He reaffirmed that Abia State Government owns 5 Percent equity in the project.

He told the governor that currently, the entire Aba gets a maximum of 50 megawatts of power from the National Grid, but that the plant has a capacity to produce 140 megawatts of electricity, which is more than enough to provide steady and sustainable power to Aba and its environs.

He told the governor that basically all the required support infrastructure was in place, including the 17km pipeline that takes gas from Owaza in Ukwa West LGA to the plant and that six months from now that the plant will be commissioned for supply of power to the people of Aba and environs.

Nnaji stated that long before the contractual problem that led to the stalling of the project, the sum of 500 million dollars had already been invested in the project, that this is the largest economic project in the entire South East region of Nigeria. He also told the governor that the company was working towards building an estate for their workers within the industrial layout.

 

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