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Nigeria faces $400m charge at arbitration after Mambila contract goes sour

A Nigerian company that lost out on a contract to build a multibillion-dollar Mambila hydropower plant has filed a $400 million arbitration claim against the nation’s government, further hampering its plans to access Chinese financing for the project, reports Bloomberg. Sunrise Power & Transmission Co. accuses the government of reneging on a settlement accord agreed…

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