The Zungeru Hydropower Project, undertaken jointly by POWERCHINA and China National Electric Engineering Co, welcomed good news on September 28. The Export-Import Bank of China signed a preferential loan agreement with the Nigerian government, offering preferential export buyer's credit totaling 75 percent of the contract value of the project for its construction. The agreement is a sign of strong support for the project.
The joint venture of SinoHydro and China National Electric Engineering Co signed the EPC contract for the Zungeru Hydropower Project on October 19, 2012. The total contract value is $1.29 billion. Zungeru Hydropower station is located in Zungeru town, 150 km away from Abuja. The designed installed capacity of the project is 70OMW. It is expected to be completed and put into operation in 2018.
