N1.9trn required for 1,200mw Itobe coal plant

Eta-Zuma Group West Africa, the fore private developer of coal power plant in Nigeria, has said about $6 billion (about N1.9trillion) is required from local and foreign investors to actualise its on-going 1,200 megawatts (mw) coal plant in Itobe, Kogi State.

The Chariman/CEO, Dr. Innocent O. Ezuma at a press conference in Abuja said over 90 per cent of the project’s pre-development process has been completed adding that on concluding the approval stages with the Nigerian Bulk Electricity Trading Plc (NBET) this year, the first phase of 300mw could be achieved by 2019.

Ezuma who said the Group already has a source of fuel for the first private coal power plant noted that 380million tonnes Zuma 828 Coal Ltd (mine) in Okobo town of Kogi State is operational and capable of supplying the required 1 million tonnes needed to run the 1,200mw plant in the long run.