The Fiji Electricity Authority (FEA) and the Chinese Development Bank (CDB) have signed a USD 70 million loan agreement for the construction of the Nadarivatu Hydropower project. A contract was signed with China’s state-owned Sinohydro Corp. Ltd to construct the Nadarivatu Hydro power project estimated to cost USD 150 million, part of which would be financed by CDB. FEA chairman Nizam Ud-Dean said the final loan agreement was signed on 18 January this year and the first draw-down of USD 82.9 million was made on 20 January.
