Demarcation and survey of land, the first sign of physical construction activities, have been observed at the $5.7 billion (about N5.3 trillion) 3,050MW Mambilla hydropower project site in Taraba State, about 35 years after it was conceived.
According to Aaron Artimas, spokesman to the Minister of Power, Engr. Sale Mamman, the project was reviewed with the coming of the minister, adding that aside signing the pact with the state government, the land and aerial survey of the project site was renegotiated for N350 million.
The Mambilla hydropower project is expected to increase the national grid by 30 per cent when completed.
The contract cost is worth $5.7bn with 85 per cent funding ($4.85bn) from the Chinese Export-Import Bank (EXIM) while the federal government is providing a counterpart funding of $850 million which is the balance of 15 per cent…
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