The Federal Government is set to earn N647.7 billion from the concession of two power projects, the E-ticketing of two rail routes and a Device Management System.
The two power projects which are the 360 Mega Watts Gurara II Multipurpose Dam and Hydro Power Plant and the 40 MegaWatts Kashimbilla Hydro Power Plant will be concessioned under an operation and Management Public Private Partnership model.
Other projects for concession are; Secure E-ticketing Solutions for the Lagos Ibadan Rail Service and the Warri-Itakpe Rail Service as well as the Device Management System, a project designed by the Nigerian Communications Commission.
According to a statement issued by the ICRC’s acting spokesperson, Ifeanyi Nwoko on Friday in Abuja, the projects will be under the regulatory guidance of the Infrastructure Concession Regulatory Commission.
The spokesperson noted that approval for the Kashimbilla 40MW HPP has been granted for the operations and maintenance of the Hydropower Plant by Messrs Mainstream Energy Solutions/KEPL Consortium-Concessionaire/Technical Partner.
The statement further added that the Lagos-Ibadan concession was approved at a cost of N1.1 billion and granted to Messers Global Software Digital Solutions Ltd and Datamataic Global Services Ltd as technical partners, for a period of 10 years. A total of N112.8 billion will be generated from this project.
The Warri-Itakpe counterpart project will be executed at the cost of N860,806,423. It was granted to Fane International Consult Limited and Artificial Intelligence Technologies Limited as technical partners, also for a 10-year term. Revenue generation from the concession is estimated at N63.3 billion.
