Sao Tome, Sao Tome and Principe, 17 March – Nigerian company, Petroleum International is set to invest US$25 million in building a power plant in Sao Tome and Principe, Sao tome’s prime minister said Thursday.
Maria do Carmo Silveira made the announcement at the end of a ceremony to sign the agreement between the director of the Sao Tome Finance Ministry, Ana Silveira, and the executive director of Petroleum International, Akiwole Omoboviono.
Speaking to the press, Maria do Carmo Silveira, set a deadline of 12 months for the start of this project, which will involve Sao Tome’s national electricity company, EMAE, and Germany’s Siemens, which will provide technical assistance.
Over the last few years there have been successive energy crises in Sao Tome and Principe due to breakdowns of the generators that power EMAE’s only power plant, which is responsible for 80 percent of the electricity supply in the archipelago.(macauhub)