Nigeria: FCMB, 13 Other Lenders Pool U.S.$ Billion to Finance 450 Megawatts Azura-Edo IPP

4 March 2014

Abuja — About 14 different global financial lenders including Nigeria's First City Monument Bank (FCMB) have collectively pulled about $1 billion to finance the 450 megawatts (MW) Azura-Edo Independent Power Plant (IPP) being developed in Edo state by Azura Power Holding Limited (APHL).

The IPP is being developed by Aldwych International, Africa Infrastructure Investment Fund (AIIM), and Asset and Resource Management (ARM) in conjunction with the government of Edo state which has about five per cent equity stake in the project.

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