Chinese firm wins Cameroon hydropower bidding
( Xinhua )
Updated: 2011-05-14
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YICHANG - China Three Gorges Corp (CTGPC) in central China's Hubei province announced Friday that one of its subsidiaries had won a contract to build a hydropower project in Cameroon.
China International Water and Electric Corp will build the Lom Pangar Hydropower Project for the central African nation's Electricity Development Corp, CTGPC said in a statement.
The contract totals $198 million, CTGPC said.
The project will be jointly funded by World Bank's International Development Association (IDA), the French Development Agency (AFD) and the European Investment Bank (BEI).
CTGPC said the hydropower project will be constructed within a period of 38 months, and the two sides have yet to decide when to start the project.
Upon completion, the dam will harness the flow of the Sanaga River and form a reservoir of 6 billion cubic meters, according to the statement.
The project will also bring about 1,500 jobs to the central African country, the statement said.
Cameroon plans to spend $12 billion to increase the country's electricity output from 1,000 megawatts to 3,000 megawatts by 2020.
