An indigenous company, Zuma Energy Nigeria limited, is investing over $3 billion to generate 1,600 megawatts which is expected to come on stream in 36 months.
One of Zuma Energy’s intended plants, to be located in Kogi state, which will be coal- fired, will generate 1,200 megawatts and will be one of the biggest power plants in the country, while another 400 megawatts gas- fired plant will be located in Egbema in Imo state.
The executive chairman of Zuma Energy Nigeria Limited, Innocent Ezuma said the Itobe power plant in Kogi State would be coal – fired hence the company has started mining coal in Okobo in Ankpa local government area of the state.
He also disclosed that all the consultancy work regarding the power plant which, will take 36 months to build, was nearing completion. He said the power project alone was valued at over $3billion while several millions of dollars have been invested in coal mining at the Okobo site.
“One of the several bull dozers used for excavation, cost close to a million dollars and there are many equipment that are on site. “We have completed all the ground work for the take off of the plant, the geotechnical studies, environmental impact assessment (EIA).
All the studies that our company is required to do have been completed. Proposals on technical and financial advice have been received from some of the engineering, procurement and construction (EPC) contractors and they are being evaluated now”, he said.