GTB 737 banner Yudala banner

FG set to kick-start $5.79b Mambilla Hydro-Power project, seals deal with Chinese consortium

By Ismaila Chafe on 31/08/2017

Share on facebook Yahoo mail icon Gmail icon

Views: 519

•Power, Works and Housing Minister, Babatunde Fashola
•Power, Works and Housing Minister, Babatunde Fashola

The Federal Executive Council (FEC), presided over by President Muhammadu Buhari, today approved $5.792 billion (about N1.140 trillion) for the construction of the Mambilla Hydro-Power project at Gembu in Taraba.

It will generate 3,050 megawatts.

The Minister of Power, Works and Housing, Mr Babatunde Fashola, disclosed this while addressing State House correspondents on the outcome of the Council’s meeting.

“The memorandum from the Ministry of Power, Works and Housing was to the award of the Mambilla Hydro-Power plant. I believe that many of you have heard of this project.

“Nigeria started talking about it since 1972; that is about 45 years ago.

“Several efforts had been made to bring it to reality but I’m happy to announce that this government approved the contract today to joint ventures of Chinese Civil and Engineering company for the engineering and turn-key contract, including civil and electro-mechanical works for 5.792 billion dollars.

“The construction should take about 72 months (6 years),” he said.

According to him, the scope of works of the project will include the construction of four dams and 700 kilometres of transmission lines.

The minister said the project, when completed, would boost the nation’s economy as it would unleash the potential that had been reported about Mambilla in the fields of agriculture, tourism and energy.

“It will also help Nigeria strike a very big blow on the climate change issue and fulfill its commitment under the Paris Agreement, because this is going to be renewable energy, coming also at a relatively competitive cost.

Fashola said the project would be jointly financed by the Federal Government and the China Export Import (EXIM) Bank.

EXIM bank will provide 85 per cent of the cost while the Federal Government would provide 15 percent. (NAN)

Source News Express

Posted 31/08/2017 05:34:32 AM

 

Share on facebook Yahoo mail icon Gmail icon


 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

 

You may also like...
Rivers APC berates Wike over visits to Chief...

How Liverpool shocked Gunners in seven-goal Premiership week...

Emulate Lagos Govt. and end sponsorship of pilgrims,...

Lagos defends involvement of foreign firms in waste...

Peterside condemns Amachree’s murder, describes Rivers State as...

Abia police desperate to re-arrest hospitalised Sun editor...

NJC holds emergency meeting over crackdown on judges...

Osinbajo tasks military to shun divisive forces

RRS foils kidnap of two-year-old boy, nabs suspect...

Fidelity Bank, LBS, NEPC forge alliance on export...

Breaking News: Gombe GOVERNOR’S HOUSE BOMBED

AMAECHI LIED OVER ‘MISSING’ $5 BILLION —Finance Ministry...

 

Latest News Ohanaeze slams secessionists, brands them enemies of Nigeria Amosun loses 2 security aides in 4 days US Congress commends Bayelsa Governor IPOB: Oyigbo (Rivers) residents bemoan military action Court convicts 5 policemen for murder FG commits to favourable investment climate Why the UN must be reformed — Intersociety •Laments over 101,500 innocent citizens have killed in Nigeria since June 1999 How to quell Biafra agitation — APGA chieftain Black Mathematician who helped America to Space honoured Police swoop on Peace Corps members Workers cripple Kogi State IPOB sues FG, Army over proscription order

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (278,987 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (260,856 views) Shameless Genevieve Nnaji exposes breasts in public (211,777 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (177,927 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (176,851 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (158,598 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (136,855 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (126,841 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (120,448 views) Lagos plane crash: Journalist releases victims’ names (111,282 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (110,457 views) APC cries foul as PDP’s Fayose takes early lead in Ekiti governorship election (102,833 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (28) Business (2,695) Business Verdict (22) Columnists (744) Complaints & Requests (93) Enterprise & Opportunities (178) Entertainment (378) Features (489) Global Business Monitor (178) International (1,545) Interviews (130) Live Commentary (28) Love Matters (73) News (28,628) Opinion (809) Pidgin (8) Politics (3,939) Religion (627) Sports (1,323) Stock Watch (23) AMA & Al Jazeera Global Update

 

UBA mobile app

CBN words on marble advert

 

 

Manchester United vs Everton 4-0 All Goals & Extended Highlights

 

APO Newsbreak logo

 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement



 

 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!