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GE In Preliminary Pact To Work On Nigeria Power-Project Plans

DOW JONES NEWSWIRES General Electric Co.'s (GE) energy business reached a five-year memorandum of understanding to work with the Nigerian government to develop roughly 10 gigawatts of power-generation capacity over the next 10 years. The Nigerian government is aiming for $10 billion in investments for electricity infrastructure projects. While the preliminary accord doesn't outline investment amounts or commitments, GE potentially may invest 10% to 15% in individual projects in which the company would supply power-generation technology and services. The infrastructure plans are part of Nigerian President Goodluck Jonathan's efforts to focus attention on reining in government spending and luring foreign investment to projects that are needed to spur growth, such as power plants and roads. A top oil exporter, Nigeria is among the continent's fastest-growing economies with a large consumer base. The preliminary pact follows a May 2009 infrastructure memorandum of agreement between GE and Nigeria. -By Tess Stynes, Dow Jones Newswires; 212-416-2481; Tess.Stynes@dowjones.com

Stock News for Gen Electric (GE)
DateTimeHeadline
04/24/201418:37:34GE Is in Talks to Buy Alstom's Energy Business - 2nd Update
04/24/201416:45:54GE Is in Talks to Buy Alstom's Energy Business - Update
04/24/201412:37:47EUROPE MARKETS: European Stocks End Choppy Day In Black
04/24/201410:39:52EUROPE MARKETS: European Stocks Pare Gains On Ukraine Tensions
04/24/201410:37:31Alstom in Talks With GE For Sale of Energy Business-Report
04/24/201407:20:41Alstom Shares Soar on GE Takeover Speculation--Update
04/24/201406:18:32EUROPE MARKETS: European Stocks Strong After Ifo, Draghi Comments
04/24/201404:31:14EUROPE MARKETS: European Stocks Strong After Ifo, U.S. Earnings
04/23/201417:50:46GE In Talks to Buy Alstom for About $13 Billion -Bloomberg
04/23/201414:30:24GE Names Ex-Chairman of Vanguard Brennan as Lead Board Director
04/21/201417:33:20U.S. Plans to Sell Mexico 18 Black Hawks to Tackle Drug Trade
04/17/201417:12:38MARKET SNAPSHOT: S&P 500's Weekly Gain Is Best Since July 2013
04/17/201417:04:26Pentagon Official Criticizes Pratt & Whitney Over F-35 Costs
04/17/201413:58:36MARKET SNAPSHOT: U.S. Stocks Set For Weekly Gains
04/17/201410:16:19MARKET SNAPSHOT: U.S. Stocks Lower Amid Mixed Earnings
04/17/201409:54:14GE Posts Declines in Profit, Revenue--2nd Update
04/17/201407:20:23GE Posts Declines in Profit, Revenue
04/15/201408:52:57U.S. Stock Futures Rise
04/15/201406:50:58Alstom to Cut Up to 200 Jobs
04/14/201416:03:15Italy's New Premier Renzi Names State-Controlled Company Heads

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