Minister of Power, Prof. Chinedu Nebo
By Jaiyeola Andrews
The Minister of Power, Prof. Chinedu Nebo, has announced that the Federal Executive Council (FEC) has approved the award of contract for engineering design, manufacture, supply, construction testing and inauguration of the Onitsha -Ifitedunu 132 KV Transmission line in favour of Messrs Sinotec-CCC international joint venture with the sum of $5.99 million.
Briefing journalists yesterday, he said the amount would be payable at the prevailing exchange rate at the time of payment plus N1.141 billion, inclusive of N271.912 million for five per cent VAT and 10 per cent contingency with a completion period of 24 months.
Nebo said council also approved the award of contract for engineering design, manufacture, supply, construction testing and inaugurated of 2x60 MVA, 132/33Kv substation at Ifitedunu and 2x 132 line bays extension at Onitsha.
He said the contract was in favour of Messrs MBH Power Limited with the sum of $8.315 million, payable at the prevailing exchange rate at the time of payment plus N864 million inclusive of N431.852 million for the right of way compensation, five per cent vat and 10 per cent contingency with a completion period of 24 months.
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