The Power Holding Company of Nigeria (PHCN) has signed a contract with Sinohydro Corporation and Harbin Electricity Corporation of China for the rehabilitation of Kainji hydropower Station.
The contract, valued at $82m, is scheduled to be completed within 42 months, when the refurbished plant will generate 340 MW.
Alhaji Afolabi Ganiyu, general manager of the World Bank Monitoring Unit to PHCN, said that the project was being sponsored with a 30-year World Bank loan at 2.5 per cent interest.
He said that the modernization project will be supervised by Alstom Hydro.
The first unit, of 120 MW, is due to be completed after 27 months, while the second unit, of 220 MW, will be operational by 40-42 months.
Ganiyu said: “The contract has been procured under strict World Bank rules. Seven contractors bid, and Sinohydro and Harbin came out as the preferred bidders.”
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