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Transcorp partners US based Symbion Power to Light Up Nigeria

By on February 23, 2012

Transnational Corporation of Nigeria (Transcorp) and Symbion Power, a Washington based international engineering contractor have forged a business alliance that will see Transcorp leverage on the technical expertise of Symbion in developing Nigeria’s power capacity.

The collaboration, according to a joint statement, was a result of the US Energy Trade Mission to Nigeria, Mozambique, Tanzania and Ghana, led by Assistant Secretary of State, Johnnie Carson and co-sponsored by the Corporate Council on Africa.

The statement said, “Transcorp, an indigenous conglomerate with an energy subsidiary business that focuses on oil and gas, power and the petrochemical industry, is partnering Symbion Power for several reasons.

“Symbion Power has run successful ventures across the Middle East and in Tanzania, where it currently has agreements to provide power to TANESCO, the local power utility. The firm has an innovative business methodology focused on building capacity and training, which it tailors to meet each country’s unique needs.

“Symbion Power is known for working closely with local subcontractors and engineers in its projects, which helps transfer knowledge and value to the community,”

Chairman of Transcorp, Tony Elumelu said of the partnership, “Africa is endowed with resources vast enough to meet all her power needs. However, for various reasons, Africa lacks adequate power supply.

“Power is crucial to the development of Nigeria and Africa – this is why I am excited to partner with Symbion Power to ‘light up Africa’, a move that I believe will help catalyse the economic transformation of not only Nigeria but the entire continent.”