November 18, 2017

Brazillian firm stakes interest in Nigeria’s power, maritime sectors

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ONE of the leading business conglomerates in the Western hemisphere, Andrade Gutierrez (AG Group) of Brazil, has indicated interest in electricity generation, distribution and port development in the country.

AG Group President (Africa) Rodrigo Da Costa Fonseca disclosed this when a delegation from the conglomerate, led by the Nigerian Ambassador to Brazil, Vincent Okedion visited the Minister of Works, Mike Onolumeme in his office in Abuja.

He noted that there is a huge potential for power generation in Nigeria from different sources, especially hydro, adding that the firm would build and operate power generation and distribution facilities in the country.

Fonseca who described Nigeria as the most important country on the African continent, observed that AG Group wants to do business with Nigeria and is very optimistic about the possibilities, stressing that they would give more focus to power generation in Nigeria.

He said: “We have concluded from our studies to invest in energy and power distributionas well as port development. We are working on identifying projects in the two sectors in order to bring financial support for the projects to be implemented. A team from Brazil would soon join the conglomerate to implement projects in the energy sector.TermeletricaTresLagoas2

“We want to finetune our strategy and work plan for our investment in Nigeria. “Nigeria is a challenge for any investor, because of its huge population and for a successful investment, you must understand the complexity of the country and also find out the priority areas for the economy”.

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