Forte Oil, Siemens sign $83m contract to upgrade power plant

Forte Oil said on Monday it had signed an $83 million contract with Siemens to upgrade its 414 megawatt gas-fired power plant and that the work would be completed next year.

Forte Oil, which also has interests in fuel retailing, was one of several firms to buy government power assets two years ago, sold as part of a privatisation meant to end decades of blackouts in Africa’s biggest economy.

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