Congo signs hydro plant deal with India
THE DEMOCRATIC REPUBLIC OF CONGO has signed a $280 million (£175 mn) deal with India to build a hydroelectric plant in the South of the vast Central African country.Work on Katende I, in the province of Kasai Occidental is due to begin in November and will continue for about four years, Congo's Energy Minister, Gilbert Tshiongo, said on Monday (July 11). The plant is expected to have a capacity of 65 megawatts when completed. It is part of the Government's plan to alleviate chronic power shortages in a country where 6 just per cent of the population has access to electricity. "The agreement foresees Indian contribution of $168 million (£106 mn). The Congolese contribution is fixed at $112 (£70)," Congolese Finance Minister Matata Mponyo said, following a signing ceremony attended by President Joseph Kabila and representatives from India's Exim Bank.Congo, which signed a similar deal worth $367 million (£230 mn) with China earlier this year has vast hydroelectric potential owing to a network of powerful rivers that drain the forest-cloaked Congo Basin.
No Comments Posted yet
Do you have comments on this?