• Friday, June 14, 2024
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Imo govt signs pact with Egyptian firm on power supply

Imo govt signs pact with Egyptian firm on power supply

The imo State Government has entered into a pact with Madkour Group, an Egyptian power generation, transmission and distribution company for the purpose of solving the perennial epileptic power supply in the State.

The Memorandum of Understanding (MOU) with the Madkour Group, which was signed in the Imo State Government House, Owerri, was the highpoint of months of partnership discussions between the management of the Egyptian firm and those of the Orashi Electricity Company of Imo State. Before that pact was signed, there had been several days of tour of facilities in the State by both parties.

BusinessDay reports that Mostafa Madkour, the president of the Egyptian company, signed for Madkour Group while Valentine Obumeyan, the Acting General Manager of Orashi Electricity Company of Imo State ,signed on behalf of the State Government.

Both parties showed impression and commitment to do everything humanly possible to ensure that perennial epileptic power supply in the State end by January 2025.

Addressing audience at the MoU signing ceremony, which included top Government officials and key management officers of Madkour Group, Governor Hope Uzodimma of Imo State said that in the pursuit of the development of Imo State, his Administration had already “assented to a law on power generation for the State and the law created Orashi Electricity Company Limited for Imo State.”

Governor Uzodimma noted that the Federal Government supports Imo State in the establishment of the company and to find technical and financial partners.

“The need for partners became necessary because the business of power generation, distribution and transmission is capital intensive and it is not what the State can carry alone”, he added.

Noting that, “this informed the coming of Madkour Group to partner Orashi Electricity Company Limited of Imo State as both technical and financial partners”, the governor emphasised that “as part of the deliverables, by January next year (2025) we will be able to generate, transmit and distribute our own power,” noting that it was to consummate the partnership that the signing of the MOU became inevitable.”

Responding on behalf of the Madkour Group, its president, Madkour, thanked Governor Uzodimma for trusting in their capacity and accepting to engage them in the partnership.

Giving the assurance that they would provide all that is needed in the power generation, transmission and distribution in the State in line with the pact they had entered into with Orashi Electricity Company of Imo State, Madkour Group promised that it would not only work hard “to support and stabilise the source of power supply in Imo State,” but “will work hard to make it happen.”