Chief Executive Officer of Symbion Power, Paul Hinks, has
called on other international investors to take advantage of opportunities
available in Nigeria.
In an interview with the Corporate Council for Africa before the recent
U.S.-Africa Infrastructure Conference, Hinks explained the exploit of his
company in Africa and how Nigeria would be an investment haven for
investors.
He said Nigeria is the company’s largest target market where it has been
bidding with various Nigerian partners to acquire two distribution companies as
well as a generation plant. “We are also working on a green-field development
project for a new 100MW power plant with a Nigerian partner and General
Electric. Nigeria is a huge, vibrant and exciting market. The Nigerian
government is committed to solving its acute power problems and we want to be
one of the companies that helps achieve this. Many positive developments have
been made there in recent years. American companies should go to Nigeria to see
what’s happening these days and use CCA as their gateway,” he said.
He said his company, Symbion, builds, owns and/or operates power generation
plants and transmission and distribution systems, and are fairly new to Africa,
but has established a large footprint in Tanzania where it is working for the
Millennium Challenge Corporation, building over $100m of electricity projects,
adding that Symbion owns three thermal power plants in Dar es Salaam, Arusha and
Dodoma and would be switching on more power plants later this year, noting that
the company currently have 217 MW of capacity which will increase to 317 MW by
the end of the year.
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