The Power Holding Company of Nigeria (PHCN) has signed a contract with the Sinohydro Corporation and the Harbin Electricity Corporation of China for the rehabilitation of the Kainji hydropower station in Nigeria.
The Sino-Nigerian contract, valued at $82 million, is scheduled to be completed within a period of 42 months, when the refurbished hydro plant would generate 340MW of power.
Gneral manager, World Bank Monitoring Unit to PHCN, Alhaji Afolabi Ganiyu, said that the project was being sponsored with a 30-year World Bank loan at 2.5 per cent interest. He added that the modernisation project would be supervised by Alstom Hydro.
The first unit of 120MW is due to be completed after 27 months, while the second unit of 220MW would be operational within 40 to 42 months