Business

Ukraine/Russian war: Our actions will not impact on Presidential Power Initiative – Siemens Energy

Swiss court hears Russian appeal against Olympic ban
By Udeme Akpan, Energy Editor
Siemens Energy, has promised that its response to the ongoing war in Ukraine, will not impact the company’s obligations under the Presidential Power Initiative, PPI.
Under the PPI, the target of the government is to increase power supply to 7,000 Megawatt, MW by December 2022, from the current average of 5,000MW, with an additional increase to 11,000MW and 25,000MW thereafter, with FGN Power Company and Siemens Energy as the driver and contractor, respectively.
This informed the recent repositioning of the project and the Federal Executive Council (FEC) approval of the procurement of Mobile Units (Transmission Substations and Power Transformers) for early works of Phase 1 of PPI and the Contract award for the Procurement of Ten (10) mobile transformers and award of Ten (10) mobile substations to Siemens last December.
Vanguard had on Monday noted that the ongoing war in Ukraine has culminated in the shutdown of Siemens manufacturing plants, thus affecting the production and shipment of the PPI components.
But in a statement obtained by Vanguard, Siemens Energy, stated that as a contractor, it remains committed to the completion of the important project.
READ ALSO: Ukraine/Russian war: Presidential Power Initiative faces new hurdle
Specifically, it stated: “Siemens Energy stopped all new business in and with Russia when the war began. The fighting has now lasted for over two months and there is no sign of a quick stop so far.
 “We are currently reviewing our Russian business. We are doing this with all due care, thoroughly analyzing the implications for all concerned. If we withdraw from Russia, we will do so in an orderly manner and with a clear plan – we also have this obligation to our 1,000 employees. Whatever actions we may take,  will have no impact on our obligations under the Presidential Power Initiative in Nigeria.

RELATED NEWS

source

What's your reaction?

Leave A Reply

Your email address will not be published.