Abuja – Bhaharat Heavy Electricals, India's biggest power company, expressed interest in investing in the Nigerian energy sector.
This comes as a major boost the country, which has in recent years suffered power outages.
"Baharat Heavy Electricals Limited is ready to invest in the Nigerian Power Sector, especially in the areas of hydro power and other renewables," Secretary of the India Department of Heavy Industry, said after he led a delegation of officials for a meeting with Nigeria Minister of State for Power, Hajiya Kuchi.
The minister said there were opportunities in the industry particularly renewables like hydro's, solar, wind, coal and waste-to-fuel.
She assured the would-be investors of vast returns as Nigeria was rated highly for offering high returns on investment.
Kuchi said there were vast opportunities available for the production of low-scale electricity production outside the national grid system in the short term.
She urged potential investors to support government to realise its’ vision for the sector.
Nigeria is interested in signing a long term agreement with the Indian company.
- CAJ News