The Minister of Power, Works and Housing, Mr. Babatunde Fashola on behalf of the Federal Government, has signed the contract for the 3,050 megawatts (mw) Mambilla hydropower project valued at $5.792 billion (about N2.096 trillion) in Taraba State, Daily Trust reports.
Fashola while signing the contract agreement for the joint venture with three Chinese firms – China Gezhouba Corporation, Sinohydro Corporation Ltd and CGOC Group Ltd – on Friday said it marked a new dawn for Nigeria’s power sector. The $5.79bn project is expected to be completed in six years with funding from the Chinese Exim Bank and other Chinese lenders, while the Federal Government will put forward 15% of the costs.
The scope of work for the project includes, four large dams (Nya, Sumsum, Nghu and Api Weir), and two underground power houses of 12 units of 250mw each. Other project components include two units of 330KV, 700km transmission lines to Makurdi and Jalingo, 120km of access roads connecting the project site and nearby communities and the resettlement of an estimated 100,000 impacted persons.