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Nigeria Breweries, Nnaji Sign Electricity Pact Lagos Nigerian Breweries (NB) Plc has signed a letter of intent with Prof. Bath Nnaji's Geometric Power Ltd for the supply of electricity to NB's plant in Aba, Abia State. The agreement was jointly signed at Eko Hotel, Lagos, by the Managing Director/Chief Executive of NB, Festus Odimegwu and the Chairman of Geometric, Nnaji, the world's famous professor of industrial engineering with the support of National Electric Power Authority (NEPA). "This agreement shows our commitment to the success of the power project which Nnaji and his international group are building," enthused Odimegwu. At the completion of the 100 million dollar independent power project in 2006, NB plant in Aba would be supplied with three megawatts of electricity. The brewery currently has a maximum supply of 2.5 megawatts which is generated from its own power generating sets since it is not connected to NEPA on account of the state-owned utility's inefficiency. Odimegwu said NB signed the agreement because of its desire to reduce operating cost and "because of Nnaji's international reputation, his experience in building and managing IPPs and the fact that our relationship would be market-determined." The brewery would pay Geometric N11 for each kilowatt of power, as opposed N18 which it is currently spending on the same amount of energy internally generated. "This will translate to considerable reduction in energy cost", said Mr Odimegwu. "What is more, our generators will last longer, as they will be used sparingly. Who Are We ? | About THISDAYOnLine.com | THISDAY People | Contact Us © Copyright 2000 Leaders & Company Limited

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