The Federal Government and a consortium
of three Chinese firms on Friday signed an agreement for the
construction of the 3,050 megawatts Mambilla Hydroelectric Power Plant
worth $5.79bn.
According to the government, the project which is being constructed in Taraba State is expected to be completed in six years.
Funding for the power plant will come
from China and the Federal Government, as China Exim Bank and other
Chinese lenders are expected to provide 85 per cent of the contract sum
amounting to $4.92bn, while Nigeria will put forward 15 per cent
amounting to $868.87m.
On the scope of work for the project,
the government stated that it would include four large dams (Nya,
Sumsum, Nghu and Api Weir), two underground power house of 12 units of
250MW each, two numbers of 330KV of 700km transmission lines to Markudi
and Jalingo, 120km of access roads connecting the project site and
nearby communities, as well as the resettlement of an estimated 100,000
impacted persons.
On August 30 this year, the Federal
Executive Council approved the sum of $5,792,497,062 for the project
which has been in the making for over 40 years.
The approval paved the way for the
signing of the contract document with the China Gezhouba Group
Corporation, Sinohydro Corporation Limited and the CGCOC Group Company
Limited.
The government explained that the agreement would allow it to seek finance for its counterpart funding for the project.
The Minister of Power, Works and
Housing, Babatunde Fashola, signed on behalf of the Federal Government,
while for the Chinese companies, Yong Jun, Gan Yongzhi and Ye Shuijiv
signed for the CGGC, Sinohydro and the CGCOC Group, respectively, at the
event in Abuja.
Fashola said the project had opened a
huge opportunity for the country to harness its hydroelectric potential
for electricity and irrigation purposes, adding that when completed, the
3,050MW plant would change the dynamics in Nigeria’s power sector.
He said, “This project is a new dawn for
Nigeria’s power diversity and energy mix. This project will give us the
opportunity for energy security; it will give us the opportunity to
comply with our Paris Climate Change Agreement because it will be
delivering renewable energy.”
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