TCN raises $1.57B to build critical transmission infrastructure

The Managing Director and Chief Executive Officer of Transmission Company of Nigeria (TCN), Mr. Usman Gur Mohammed, announced that the company has raised a total of $1.57 billion to build critical infrastructures across the country, reports All Africa.

Speaking in Lagos at a power roundtable organised by Sahara Power, Mohammed said the $1.57 billion would be used to build transmission lines and substations to stabilise the national grid.

According to him, $408 million out of the $1.57 billion was provided by the World Bank to increase the transmission capacity through brownfield projects.

Source: All Africa