Tuesday, 05 September 2017

Nigeria: Egbin owners struggle to find $1.2bn credit line

Egbin Power Plant, currently 1,320MW Egbin Power Plant, currently 1,320MW

Banks are reluctant to give Nigeria’s Egbin Power new loan facilities as the utility is burdened with substantial debt. The company has been seeking to refinance N125 billion ($352bn) it owes to the Federal Government and now wants to raise another $1.2 billion to expand the Egbin Power plant by up to 1,500 MW by 2020.

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