Viathan Engineering Partners UK’s Caterpillar/Unatrac Ltd For 200mw Expansion

MICHAEL AKINOLA

Viathan Engineering Limited, Nigeria’s leading indigenous provider of integrated captive and embedded power solutions, recently in London executed a technical partnership agreement with Unatrac Ltd UK, a leading industry supplier of Caterpillar generators to achieve a generation capacity growth plans of 200MW over a five year period from its current 50MW.

Ladi Sanni, Viathan Engineering CEO, said choosing a major manufacturer like Caterpillar is significant.

“The engine technology, technical capabilities, after sales support and extended footprint in Europe and Africa which ensures short turnaround for gas engine delivery, makes Caterpillar/Unatrac a partner of choice for Viathan. This will in turn enables the power company to meet customer demands much faster,” said Sanni.

On his part, Steven Scott, Unatrac Managing Director, expressed his company’s pleasure to add support to the ambitious growth plans of Viathan.

“With our broad footprint in Africa we are very pleased to be able to partner and support Viathan as it grows its power generating capacity to 200MW over the next five years. In choosing Caterpillar/Unatrac, Viathan is guaranteeing quality of product and reliability of service,” Scott said.

The agreement which encompasses the supply of gas engines for power generation was executed with competitive commercial terms comparable in the industry, with the scope covering Engineering design, Equipment Sales, Shipping, Installation, Testing and Commissioning.

In a related development, Viathan, as a pioneer in the Nigerian power sector, recently obtained the approval of the Securities and Exchange Commission (SEC) to establish a N50 billion Medium Term Note Programme, to finance the capital raising plans for its proposed capacity expansion programme as well as to improve operational efficiency.

The first series of bonds to be issued under the programme will be guaranteed by InfraCredit, a ‘AAA’ rated local currency guarantee facility established to support long term local currency financing for infrastructure in Nigeria.

The timing of these two events according to Sanni is no coincidence but further emphasises the focused execution of Viathan’s growth plan.