Buoshishi International Limited, a Nigerian firm is ready to construct a 300 kilometer transmission line in Cross River state.
Chief Executive Officer (CEO), of the corporation, Ambassador Yahaya Abdullahi Mohammed, revealed the plan to construct the transmission line in Cross River state at a delegation of the corporation on a courtesy call on the state governor, Senator Ben Ayade in Calabar.
Speaking about the extraordinary appeal the state holds for investment, Mohammed said: “We were fascinated by Cross River State because of the investors’ welcoming environment it offers, which is about zero crime rates as well as the governance style displayed by Senator Ben Ayade.”
According to Mr. .Abdullahi Mohammed, “We are set to construct a 300kms transmission lines starting from the southern to the northern region of the state under a Build, Operate and Transfer (BOT) agreement. We are to supply the necessary technical expertise and financial support and in doing this, we will emphasize our recruitment of both skilled and unskilled to favor Cross River locals.”
Giving insights into how the project will be financed, Mohammed added: “We have by now managed to secure US $500M and another US $5billion from the Bank of Scotland to guarantee you of our budgetary ability, outreach, pedigree and our reliability.”
He also accentuated their dedication to the partnership and willingness to work with the state to bring development to the people of Cross River. He affirmed the eagerness of the state to explore the generation of power from hydro carbon since it is more cost efficient and environmentally friendly.
Mr. Ayade said that this transmission route is going through the new 260km superhighway and the concept is to steadily shift the whole state into the superhighway route because that is where all the new factories, new cities are being erected.
This new line will hopefully boost socio-economic lives of the people of Cross River.