• Assures on local content
• New plant to be ready in 48 months, to be privatised at completion
THE Federal Government yesterday activated a Memorandum of Understanding (MoU) between it and a Chinese Consortium Sinohydro/CNEEC Corporation for the immediate commencement of work on the construction of 700 Mega Watts (MW) Zungeru Hydroelectric Power Project in Niger State.
This followed the nod given to the contract by the Federal Executive Council some weeks ago.
The construction of the plant is coming 30 years after government first did a feasibility study on it.
But it will not be business as usual as government warned that Nigeria’s local content policy of engaging local workforce and sourcing available raw materials locally must be respected.
Minister of State for Power, Hajiya Zainab Ibrahim Kuchi, who spoke at the signing of the contract in Abuja, said, the project, which is valued at N162. 9 billion, would be completed in 48 months and that on completion, the Bureau for Public Enterprises (BPE) would be invited to privatise the plant like other utilities in the power sector.
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