M a r k e t N e w s
Chinese Company Signs a Deal of over 40 mln USD Accord with Ethiopia's Grand Hydro-Dam Project
Posted on : Wednesday, 20th February 2019
Chinese construction and engineering company, China Gezhouba Group Co. Ltd. (CGGC), has inked a contract agreement with the Ethiopian government to be a part of Grand Ethiopian Renaissance Dam (GERD).
The contract agreement involves 40.1 million U.S. dollars, also the CGGC will take part in pre-power generation activities of Ethiopia's grand hydro-electric dam, which will claimed as Africa's largest hydro dam upon completion with a total volume of 74,000 million cubic meters, the Ethiopian Electric Power (EEP) revealed on Tuesday.
Abrham Belay, The Ethiopian Electric Power head, said during the signing ceremony in Ethiopia's capital Addis Ababa that the agreement with CGGC is expected to speed up construction of the dam.
Also EEP on Tuesday disclosed that it signed one more agreement with Voith Hydro Shanghai, which is part of the Voith Hydro that headquartered in Germany with specialization on manufacturing of turbines and turbine generator sets, for the construction and commissioning of six turbine generators at the GERD.
The energy sector is one of Ethiopia's priorities as the country anticipates becoming a light manufacturing hub in Africa together with a middle-income economy by 2025.
Officials at the Ethiopian Ministry of Water, Irrigation and Energy (MoWIE) recently told Xinhua that the East African country is engaged to reach 17,300 MW of energy by the end of 2020, from the current 4,280 MW of energy through energy projects in hydro, wind, geothermal and biomass energy.
Source : www.xinhuanet.com
