The Senate has declared that all the financial and legal hurdles hindering the smooth take-off of the Mambila Hydro Electric Power projects had been resolved.
The red chamber said the contractors were expected to mobilise men and materials to site before the end of the year.
The Chairman, Senate Committee on Local Content, Senator Teslim Folarin, stated this while receiving the report of the finance subcommittee of the Mambila Hydroelectric Power projects.
He said the subcommittee was an off shoot of the Technical Working Group on Mambila Hydro-Electric Power Local Content inaugurated in June 2020.
The Federal Executive Council had on August 30, 2017 approved the contract for the Mambila Hydro Electric Power Project in the sum of $5.79bn for the construction of 3050MW.
The project was awarded to Chinese contractors JV (CGGC-SHC-CGCC), with the site in Gembu, Taraba State.
Folarin noted that the challenges that emanated in the course of the execution of the project, made the Presidential Committee on North-East Development now the North East Development Commission to review the initial plan of the Technical Working Group.
He said, “Thereafter, the reviewed report was forwarded to the National Assembly for further legislative action.
“Consequently, the National Assembly along with the Technical Working Group, constituted the Finance Sub-Committee under the Chairmanship of the Executive Director, NEXIM Bank.
“The sub-committee was inaugurated earlier this year by the Senate Committee on Local Content and it was mandated to report back to the committee within six weeks.”