Friday, December 4, 2015

China To Finance Nigeria's Abandoned 33-Year-Old Electricity Project

China To Finance Nigeria's Abandoned 33-Year-Old Electricity Project 
The Chinese President Xi Jinping has informed President Buhari of the willingness of his country to finance the whole project of the Mambilla Power Station through a special loan agreement. President Buhari had indicated to Xi Jinping at a bilateral meeting in New York that he wanted China to re-commence stalled rail projects under new terms that would see China providing nearly all the financing required.

It was at this meeting Buhari also discussed ways of removing all obstacles in the way of the 3,050 MW Mambila Power Station. Mambilla Power Station, one of Africa's (and Nigeria's) biggest dam projects, is a projected hydro power plant which will be connected to three dams across the Donga River in Taraba State. Conceived in 1982, the main Mambilla Dam is a large rolled compact concrete dam and reservoir at 1,300 metres (4,300 ft) above sea level.

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