- The Ondo State Government and a Korean firm, Kingline Development Limited, have concluded plans to boost industrialisation in the state with the construction of a 550-megawatts power plant valued at $500m (N99bn).
- The Chief Business Development Officer, Kingline Development Limited, Mr. Akinnola Fola, who disclosed this at a press briefing in Abuja on Friday, said the project would transform the state and make it an industrial hub.
- According to him, the project, named Kingline Ondo IPP, is to be situated at the Ondo State International Industrial Park, Omotoso
- Fola said the power project would be operated using the Public-Private Partnership module and aimed to generate about 550MW in the first phase. Hear him;
“The output now is $500m for 550MW. This is the phase one of the project. At the second phase, we will do another 550MW to bring it to 1,100MW.