Friday, February 10, 2012

China Gezhouba secures US$1.4 billion contract in South Sudan (Bedden Hydropower Project)

China Gezhouba secures US$1.4 billion contract in South Sudan
(Bedden Hydropower Project)

1 February 2012

China Gezhouba Group Co Ltd, the main contractor of the Three Gorges
Hydroelectric Project, today said that it has signed a contract worth
nearly US$1.4 billion or RMB 8.87 billion to build a hydropower station
in South Sudan.

The project, which is designed to have an installed capacity of 540
megawatts, is expected to be completed in 80 months or seven years with
a powerhouse and several dams for electricity generation.

At the end of the first year, China Gezhouba is estimated to complete
12.15% of the total project, and then 17.95%, 21.46%, 18.93%, 13.02%,
10.58% and 5.91% of the entire project in the remaining six years,
respectively, said analysts.

Investors of the projects intend to acquire loans from Bank of China,
which is still subject to the approval of both the Chinese and the South
Sudanese governments.

Last month, Shanghai-listed China Gezhouba started construction on a
554-kilometer railway project worth US$160 million in East Nigeria. The
project would be completed in eight months and is part of a 2,119-km
railway project.

Source: http://www.energychinaforum.com/news/59614.shtml

Further information from Gezhouba about the signing ceremony (in
Chinese):
http://www.gzbgj.com/article.aspx?menuid=1329&tab=tab_News&tabid=1144

Technical details of the project: http://www.diu.gov.sd/en/announcement.htm
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