Congo to start work on US$13.9b Inga 3 fa­cil­ity

New Straits Times - - BUSINESS / WORLD -

KIN­SHASA: Congo plans to start work this year on the fre­quently de­layed Inga 3 hy­dropower project, af­ter re­ceiv­ing a joint bid from two pre­vi­ously com­pet­ing con­sor­tia of in­vestors.

One group led by China Three Gorges Corp and an­other in­clud­ing Ac­tivi­dades de Con­struc­cion y Ser­vi­cios SA of Spain sub­mit­ted a joint bid on June 6 for the project that will pro­duce 11,000 megawatts (MW) and is pre­dicted to cost US$13.9 bil­lion (RM55.41 bil­lion), said 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,” said Ka­pandji.

“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.”

Congo has been mulling the build for more than a decade to ad­dress a power short­age that has curbed min­ing-in­dus­try growth.

A treaty signed in 2013 pro­vided for the plant to ex­port 2,500MW of power to South Africa. The plant would form part of a larger Grand Inga hy­dropower com­plex span­ning part of the Congo River and pro­duce as much as 50,000MW when com­plete, said the World Bank.

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