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| Electric pylons |
ABUJA - General
Electric Co has signed a memorandum of understanding with Nigeria to
invest $10 billion in new power plants for Nigeria in which it will take
a 10-15 percent equity stakes, a power ministry spokesman told Reuters
on Monday.
The spokesman said GE would be "partnering with the government
and the power sector partners," in a deal that will go ahead after
privatisation of Nigeria's dilapidated and woefully inadequate power
sector goes ahead.
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