Abuja, Nigeria — ESI-AFRICA.COM — 31 August 2011 – 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.
Media outlets here report that the Sino-Nigetrian contract, valued at US$82 million, is scheduled to be completed within a period of 42 months, when the refurbished hydro plant will generate 340MW of power.
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. 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 will be operational within 40 to 42 months.