Luanda, Angola, 22 Jan – The Angolan government has approved funding of US$74.6 million for finishing construction work on the Capanda hydroelectric dam, according to Angolan news agency Angop.
Angop reported that the approved figure would be used to finance work on the second phase of refurbishment of the Capanda hydroelectric facility, logistic support and related services.
The figure includes a credit line form Brazil totaling US$18.4 million and a donation from the State Budget of US$17.8 million.
The Capanda hydroelectric dam, in northern Angola, will make it possible to launch the new Lobito Oil Refinery, the start of operations at the iron mines in the province of Kwanza-Norte and the launch of agro-industrial projects in Malanje and Bengo.
Overall investment in building the dam is of US$2.6 billion.
The dam, as well as making it possible to link the electricity networks in the North, Center and South of Angola, will also regulate the flow of the Kwanza river downstream of the dam.
Regulating the flow of the river will make it possible to build a further seven dams along the river.
With an installed capacity of 520 megawatts, the Capanda hydroelectric complex, which was officially inaugurated in November 2005, began producing electricity in 2004 for Luanda and Malange in Northern Angola.
Work on the dam is expected to be finished this year. (macauhub)