Abuja, Nigeria — ESI-AFRICA.COM — 19 July 2011 – The Power Holding Company of Nigeria (PHCN) has signed a contract with Sino-hydro Corporation and Harbin Electricity Corporation of China for the rehabilitation of Kainji hydropower station in Nigeria.
HydroWorld.com quotes media outlets here as reporting that the contract, valued at US$82 million, is scheduled to be completed within 42 months, when the refurbished hydro plant will generate 340MW.
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% interest. It 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 is scheduled to be operational in 40 to 42 months.