YAOUNDE, Jan 14 (Reuters) - Indian engineering firm Angelique International will build two hydro power plants in Cameroon as part of a 125 billion CFA francs ($251.5 million) aid deal, the central African country said late on Tuesday.
State-owned Export-Import Bank of India will loan the money to Cameroon, the second such deal signed between the Gulf of Guinea nation and Angelique in the past two months.
As well as power plants, the money will finance drinking water and sanitation projects.
Most of Cameroon's electricity is generated by hydroelectric power stations, but droughts can leave the country facing electricity shortages.
Cameroon's Water and Energy Minister Jean Bernard Sindeu said the deal signed on Tuesday was "a welcome relief for the millions of people living in rural Cameroon who are in dire need of electricity, drinking water and sanitation facilities."
Angelique was due to start work on the projects in July, Sindeu said.
Details of the loan repayment schedule and interest rate have yet to be finalised.
Showing posts with label African energy. Show all posts
Showing posts with label African energy. Show all posts
Wednesday, 28 January 2009
Friday, 02 January 2009
Life's no gas for Ukraine in the energy wars
Ukranian households will be greeting 2009 with a sharp sense of deja vu.
It's the third time in two years Russia has turned off the taps.
The dispute behind the old Iron Curtain is ostensibly about Russia collecting long-standing debts.
But it has the kind of intrigue you might find in a Cold War thriller: a power battle in Ukraine, sleaze allegations levelled at top gas executives plus a long-standing economic row over just how much Ukraine should pay to pipe gas from its old Soviet master and neighbour.
Although countries like Hungary lost up to 40 per cent of gas they receive via Ukraine during the brief switch-off in January 2006, it's unlikely this latest flare-up will have the same impact.
But it's re-opened the debate over how much customers across Europe should pay for gas and where we source it...
It means countries can turn to the vast gas fields around North and West Africa's coasts as alternatives.
Subscribe to:
Posts (Atom)
Posts
