China provides $1 billion for Ethiopian dam transmission lines

China provides $1 billion for Renaissance dam Transmission lines
Daniel Berhane's Blog, Friday, April 26, 2013
http://danielberhane.com/2013/04/26/nile-china-finance-billion-dollar-renaissance-dam/


The Grand Ethiopian Renaissance Dam-Dedesa-Holeta 500 KV Power
Transmission Project has been signed between Ethiopian Electric Power
Corporation (EEPCo) and China Electric Power Equipment and Technology
Co.Itd.

The transmission line is of double circuit and it stretches 1238 km from
the Renaissance Dam to Dedesa to Holeta through 500kv transmission line.
There will be two new substations in Dedesa and Holeta. The over 98 km
transmission line of 400kv stretches from Holeta to three existing
substations: Sebeta II, Sululta II and Akaki II. The total transmission
line is 1336kv long.

The total transmission line contract price is US$ 820 million and the
two substations construction costs over US$ 359 million. The overall
cost of the project is over US$ 1.17 billion.

The Chinese Electric Power Equipment and Technology Co.Itd covers 85 %
of the cost of the project from Chinese financial sources while the
balance is financed by Ethiopian Electric Power Corporation. This
implies the Chinese provide over a billion dollar to the construction of
the transmission line project, which of course shows the very close
relationship between China and Ethiopia.

When interest combined, the total contract amount of the project is over
US$ 1.4 billion. The Project duration of the contract is 28 months after
two months of the signing ceremony.

In the signing ceremony, CEO of EEPCo Mihret Debebe said the signing of
the contract is historic as the Chinese keep providing financial support
to such huge project to which the country attaches profound significance.

The Chinese responded saying Ethiopia is a strong economic and political
ally in Africa and the cooperation between the two nations will remain
strong.

The signing ceremony is attended by Dr. Debretsiyon Gebremichael with
Deputy Prime Minister Portfolio, Minister of Water and Energy, Alemayehu
Tegenu, State Minister of Finance and Economic Development, Ahmed Shide
and other dignitaries.

***********

Source: Ethiopian Radio and television Agency – April 26, 2013.
Originally titled "Renaissance Dam Power Transmission Project signed",
by Zeryihun Kassa.
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