-Managing Director of ECG has revealed an injection of some $123 million into the company
-The investment would go into the purchasing of transformers and prepaid meters
-The new equipment are intended to drive improved services and power stability
Managing Director of the Electricity Company of Ghana, Samuel Boakye-Appiah has indicated that the company is making a cash investment of $123 million to help upgrade the services of the power-generation company and also serve as an impetus to generate revenue for the company.
He said that the money would be used to purchase some 600 new transformers and 500,000 new prepaid meters are projected to be fitted over the next three years. The purchases would help improve power supply in the country but the main region of focus would be the Ashanti region were there have been incessant power cuts over the last few months.
Speaking at a media briefing in Kumasi, the Managing Director of the company also added that some new centers would be opened in Atonsu, Kronum, Ofoase Kokoben and Tanoso to ensure wider coverage for people living in the region.
He added that the new network installations were estimated at $120 million. He revealed that the source of the funding was from donor partners and funds that were projected to be generated internally by the activities of the company. He noted that the substantial investment was expected to improve on operational proficiency, boost customer care and craft system reliability and security all in the bid to offer consistent source of supply to their esteemed clients.
According to Samuel Boakye-Appiah, the power-generation company was also going to experience reformation to automate some of its work all over the country.
He mentioned that the Ashanti Strategic Business Unit (SBU) was one unit targeted in the reformation process to reduce outages and greater network resilience and improve the quality of service in the region.
He continued that a 3 million dollar contract had been awarded to a German company, Alsthom and its local partners Atlantic Holdings to supply and install a Supervisory Control and Data Acquisition System (SCADA) and telecommunication networks which would play a role in sustainable power supply in the region.
He indicated that measures were also being put in place to ensure that power theft was nipped in the bud.
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