The government of Nigeria has requested a loan from
the China Exim Bank to build the 3,050MW Mambilla Hydropower
Project. The Federal Executive Council (FEC) had on August 30, 2017 approved the award of
a contract for the project to China
Gezhouba Corporation, Sinohydro Corporation Limited and CGOC Group Limited.
Under the terms of the contract, China Export Import (EXIM) Bank will provide 85% of the cost, while the
federal government is to bear 15%. The 85% being requested as a loan will not
be handed over to the federal government. The money will be paid directly to
the Chinese contractors on behalf of the federal government. But Nigeria has to
make a formal request for the loan.
Also read:Construction of US $4bn
Batoka hydro power project to begin next year
Mambilla Hydropower
Project
According to the ministry of finance, the US $5.8bn
Mambilla hydropower Plant project which has been in the making for over 40
years, is expected to connect to three dams across Taraba’s Donga River. The
first preliminary feasibility study for the Mambilla hydropower Plant was
reportedly carried out by Moto Columbus in 1972; however, since then the
attempts of actualizing the project have been in vain.
The construction of the hydropower project will take approximately six years because of the extensive nature of the scope of work, which include the construction of four dams, one of which is expected to be 150m high. The other two will be 70m and 50m high.https://constructionreviewonline.com/2019/08/nigeria-seeks-us-5bn-loan-for-construction-of-mambilla-hydropower-project/
