Real estate company, Pelican Valley Nigeria Limited, says it has signed a N36.5m electrification contract with Lucky David Nigeria Limited, a Nigerian based electrical engineering company.
In a statement on Friday titled ‘Pelican Valley seals N36.5m electrification contract for its housing estates’, it said the contract would provide transformers in its three housing estates in Ogun State as well as connect them to the national grid immediately.
The President/Chief Executive Officer, Pelican Valley Estate, Babatunde Adeyemo, during the signing ceremony at its head office, expressed delight at what he described as a long dream realised.
He disclosed that the contract, which must be completed within the next two months, would not only add value to the different estates, but also further increase the returns on investments of customers, which had already increased by almost 100 per cent within six months.
He disclosed that Pelicanvalley was less than five minutes’ drive from the Abeokuta train station.
Adeyemo said, “Also our new Pelican-Brief Estate is less than sixteen minutes’ drive from the same train station.
“The train is programmed to run 160 kilometre per hour, while Ebutemeta, Agege, Apapa, Ijora to Abeokuta through the train is less than 75/85 / 90 kilometres respectively.”
The Chairman, Lucky David Nigeria Limited, Festus Nwanchor, whose company is handling the project, described Pelican Valley Estate as a reliable housing estate that continues to add value to customers’ investments.
Nwanchor expressed delight at the successes so far recorded by Pelican within the few years of its existence.
He said, “With what I have seen at their estates and customers’ patronage, this is a company that really means business.
“I believe in the future and enterprising nature of Pelican as a company, hence we did not hesitate to go into the electrification project contract.”
He added, “A company like this should be encouraged, as it assists the government both at the federal and state levels to meet the housing needs of Nigerians and others.
“On the completion of the electrification projects, the estates will be connected to the national grid immediately, thereby meeting the needs of existing and prospective landlords within the three estates.’’
The statement said at the event, the estates corporate ambassador and a popular nollywood actor, Mr James Olasehinde, popularly known as Pa James, described the real estate company as one of the most reliable he had ever come across in recent times.