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In further moves into the African energy market, Chinese group Sinohydro Corp has signed two turnkey contracts to develop a hydro project in Ghana and another in Equatorial Guinea.
Sinohydro signed an Engineer, Procure and Construct (EPC) contract with the Ministry of Energy in Ghana for development of the 400MW Bui hydro station. The contract is hoped to receive the formal approval of the Government shortly.
To be built in the north of the country, upstream of the Walter reservoir near the border with Cote d'Ivoire, the project will involve construction of a 110m high RCC dam and a power house with three turbine-generator units. Output from the project is expected to be 1000GWh annually.
Further aspects of the US$594M multipurpose project will also see an irrigation system developed. Funding for the scheme is mainly from commercial credit and preferential buyer credit in China. Various state agencies in China have discussed loan agreements with the government of Ghana for the project, and negotiations were expected to be completed this month.
News date: 13/04/2007