NNPC Agrees to $2.5bn Financing with Chinese Lender for Pipeline Project via thisdaylive
The Group Managing Director of the Nigerian National Petroleum Corporation , Mallam Mele Kyari, has disclosed that the corporation has agreed to a $2.5 billion financing with a Chinese lender for pipeline project in Nigeria.
He added that the corporation had secured 15 per cent owner financing from the Chinse firm, which is close to $430 million already, and that the NNPC was expecting closure of 85 per cent, which amounts to about $2.5 billion. “The financing will be closed in maximum of six months period. We are adding 3, 600 megawatts of power from three captive power plants to be located in Abuja Kaduna and Kano. What that means is that you are going to add additional capacity which will spur up industrialisation in these locations with these power plants”.
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