Gov. Godwin Obaseki of Edo has signed a Memorandum of Understanding (MoU) with SIEMENS, an energy company, to develop the economy of the state.
Obaseki, who disclosed this at the MoU signing ceremony in Benin on Wednesday, said that the MoU would cover power, transportation, education and industrialisation,
He expressed satisfaction that the agreement was coming at a time the state government was entering into many similar arrangements to develop the state.
The governor said that the agreement would fast-track industrialisation of the state.
He said that the state government had signed its first Power Purchase Agreement, (PPA) which targeted five megawatts of electricity in its first phase.
He said the state government had also commenced negotiation with gas companies to begin exploration activities in the state.
Earlier, the Head of SIEMENS delegation, Onyeche Tiffashe, said the agreement also covered sustainable development Initiatives to encourage entrepreneurship development in the state.
She said the group was working hard to deliver on their set targets which also included collaboration with BEDC to increase power generation in the state.