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FG Approves Transfer of Power Plant to Investor

Posted by From Chuks Okocha in Port Harcourt on 2005/07/11 | Views: 310 |

FG Approves Transfer of Power Plant to Investor


The Federal Government has approved the concession of the Dadin Kowa Hydropower Plant, on a Build Operate and Transfer (BOT) basis, to a petroleum service company, Mabon Limited.

The Federal Government has approved the concession of the Dadin Kowa Hydropower Plant, on a Build Operate and Transfer (BOT) basis, to a petroleum service company, Mabon Limited.

The agreement was signed between the ministry of Water Resources, represented by the Upper Benue River Basin Development Authority and the company.
A statement from the company, which was signed by the project co-ordinator, Alhaji Baba Yahaya said the agreement allowed it to complete the construction and operate it for 25 years before handing it to the Upper Benue River Basin Development Authority.

The statement explained that the construction of necessary civil works and installation of all mechanical and electrical systems shall be as specified in relevant drawings by the ministry. The project is estimated to cost over N9bn , the statement said.

The company expressed its appreciation to government for giving it the opportunity to serve and said that it was their contribution to government’s investment drive and to provide electricity for Nigerians.
Mabon is a Nigerian service company, which began its operations on the West coast of Africa in 1990. It is involved in activities such as seismic survey, exploration services, oil and gas consultancy as well asset and resources management.


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Comments (2)

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Toluwalase Samuel Olufemi(Ijebu, Ogun, Nigeria)says...

Authority belongs to God, once He decrees it is final and binding

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Ikponmwosa Osamede(Edo, Nigeria)says...

Your meaning of Osamede is wrong. Osamede means God has given me a crown