Brazil plans to loan Angola US$2 billion (200 billion kwanzas) to finance Brazilian exports of goods and services for carrying out construction work on the Laúca hydroelectric dam, according to a presidential decree published in Luanda.
The funding follows a protocol between the two countries and approved by the President of the Republic, José Eduardo dos Santos and signed by the Angolan Finance Minister.
The Laúca dam, which is being built by Brazilian company Odebrecht, is Angola’s largest hydroelectric project costing an estimated US$3.7 billion.
Once it starts operating the Laúca hydroelectric facilities is expected to generate enough power for 750,000 people’s needs.
The facility’s power production capacity of 2,067 megawatts, will also be used to regulate the flow of the Kwanza River, along with four more dams are planned to be built: Caculo-Cabassa, Túmulo do Caçador, Zenza I and Zenza II.
The Capanda dam, which will be built upstream of the Laúca dam, will regulate the flow of the river towards the Laúca dam. (macauhub/AO/BR)