“This will be a significant saving on our fuel bills, savings on foreign reserves, alleviating some of the balance of payment problems and helping to keep FEA’s tariff low to boost investor confidence,” FEA Chairman Nizam Ud-Dean said.
“This makes the Nadarivatu Hydro project one of national importance.”
Ud-Dean commented at the official exchange of loan agreement between FEA and China Development Bank for the Nadarivatu hydropower project at Suva.
“This loan facility gives FEA the ability to commence construction on the Nadarivatu Hydropower project which is expected to generate significant employment opportunities locally and result in substantial benefits socially, economically and environmentally,” Ud-Dean said.
