Dam fi­nanc­ing now se­cured

The Star Early Edition - - BUSINESS REPORT -

NIGER had se­cured 100 bil­lion CFA francs (R2.11bn) in fi­nanc­ing needed to build a dam that was due to make the coun­try self-suf­fi­cient in power and boost agri­cul­tural pro­duc­tion, the gov­ern­ment said at the week­end. The 130 megawatt Kan­dadji hy­dro­elec­tric project, 180km north-west of the cap­i­tal Ni­amey, was due to be built by Rus­sia’s Zarubezhvod­stroy, but the firm lost the con­tract last year after Niger ac­cused it of de­lay­ing the project. The dam is now due to be com­pleted in 2017 and will cost around R11bn. Niger is a small-scale oil pro­ducer but reg­u­larly faces food short­ages due to poor rains. The dam is due to ease power short­ages in a na­tion that must buy elec­tric­ity from Nige­ria. – Reuters

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