EnergyWatch

Nigeria says Chinese to build USD 5.8 billion hydropower plant

Nigeria has announced that a Chinese company will construct a hydro-power station in the country and China's Export-Import Bank will provide 85 percent of the funding for the project.

Photo: Bloomberg

Nigeria said China Civil Engineering Corp. will build a USD 5.8 billion hydro-power station in the country's eastern Mambila region with a capacity to generate 3,050 megawatts.

China's Export-Import Bank will provide 85 percent of the funding for the project, which is scheduled to be completed in six years, Power, Works and Housing Minister Babatunde Fashola told reporters on Wednesday in the capital, Abuja. Nigeria will contribute the remaining funds.

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