Fiji Electricity Authority and the Chinese Development Bank have finally put pen to paper and signed the $150 million deal that will see the starting off of the Nadarivatu Hydro Dam.
FEA chief Executive Hasmukh Patel revealed this deal will see the Authority save a lot in terms in fuel expenses.
Chief Guest, Minister for Works Transport and Public Utilities Timoci Natuva said the project is going to increase our foreign reserves.
The new Nadarivatu Hydro plant is expected to be up and running by mid 2011.
Reserve Bank Governor Savenaca Narube has also saluted this move saying it is good for the development of the country, as it is going to boost our foreign reserves.
The project is expected to generate significantly employment opportunity locally and result in substantial benefits socially, economically and environmentally.
$150M deal signed for Hydro Dam
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