The Federal Government expects to generate N647.7 billion in revenue through concessions in two energy power projects, electronic ticketing for two railway lines, and a Device Management System. The 360 MW Gurara II Multi-Purpose Dam and Hydropower Station and 40 MW Kasimbila Hydroelectric Power Station, these two power projects will be conceded under a Public-Private Partnership model of operation and management.
Other concession projects include Secure E-ticketing Solutions for the Lagos Ibadan Rail Service, the Warri-Itakpe Rail Service, and the Device Management System (a project developed by the Nigerian Communications Commission).
The projects are under the regulatory guidance of the Infrastructure Concession Regulatory Commission, according to a statement issued in Abuja on Friday by ICRC acting spokesperson Ifeanyi Nwoko.
360MW Gurara II Hydroelectric Power Plant is a greenfield project. It will employ the PPP (Public-Private Partnership) construction, operation, maintenance, and transfer model under both companies’ 30-year engineering procurement and construction contract.
CGCOC Group Corporation’s spokesperson announced that Mainstream Energy Solutions/KEPL Consortium Concessionaire/Technical Partner granted the permit to operate and maintain the 40 MW high-pressure hydropower plant Kasimvila hydropower plant.
According to the statement,
“Both the Gurara and the Kashimbilla HPP projects will bring about Improved living conditions and employment, Promotion of agriculture through irrigation, reduction of Greenhouse Gases as well as foreign exchange preservation”.
“One of the primary objectives of the dam is to mitigate the environmental disaster associated with overflow of flood water in various downstream states of Taraba, Benue, Kogi, Delta, Cross River and Bayelsa, potentially affecting more than 6 million people.
“The hydropower component of the Dam will also aid in ecological flood control, water supply for a population of about 400,000 people, irrigation potentials for about 3,000 hectares of arable land for farming as well as fishing to support food security.
“The dam, hydropower plant, and other complementary infrastructure will be executed within a concession period of 30 years and an expected total revenue generation of $875million USD within the period, while project cost for Kashimbilla HPP, is put at N7.68 billion approved for a concession period of 15 years. It will yield a total revenue of N85 billion.”
The statement also stated that the Lagos-Ibadan concession was granted to Messers Global Software Digital Solutions Ltd and Datamataic Global Services Ltd as technical partners for ten years at N1.1 billion. The project is expected to generate a total of N112.8 billion.
In addition, Fane International Consult Limited and Artificial Intelligence Technologies Limited were granted the Warri-Itakpe counterpart project, estimated to cost N860,806,423 and will last for ten years. Moreover, the concession of the Warri-Itakpe counterpart project is estimated to generate revenue of N63.3 billion.
cc: Punch Ng
