The Democratic Republic of Congo (DRC) has received a joint bid for its ambitious 11, 000megawatts hydropower project and expressed plans to kickstart the long-delayed project this year. But as elections draw near and tensions continue to rise about the possibility of the current president extending his 17-year reign, the political environment still poses a big risk.
One consortium led by China Three Gorges Corporation and another that includes Spain’s ACS (Actividades de Construccion y Servicios SA) submitted a joint bid on June 6 for the $13.9 billion project which will generate 11, 000 megawatts, a Bloomberg report said quoting Bruno Kapandji, director of the Agency for the Development and Promotion of the Grand Inga Project on Wednesday.
“Our aim is to start Inga this year,” the Director of the agency said. “The two consortia have given us a document in which they committed to creating a single consortium. We are in the process of preparing, discussing and negotiating the exclusive collaboration contract which will allow the single candidate to go to the market to find the financing.”
The Inga 3 project, the first part of the mega-project, is being fast-tracked by the DRC government and will span one channel of the vast Click here to read entire article
Source:: Ventures Africa