The China Machinery Engineering Corporation (CMEC) will begin construction of a power plant in Soyo, Angola after receiving the first instalment of US$147.7 million from the Strategic Financial Oil Reserve for Basic Infrastructure, according to a presidential order.
According to the same order, this power plant, which is part of the Public Investment Programme, “is of great importance for economic and social development of the country” and is included in the government project to reduce the Angolan energy deficit by 2017.
The Soyo combined-cycle plant will cost US$982 million, and according to the government will be built base on “growth forecasts for electricity demand in the country” in the medium and long term.
The contract was signed between the Ministry of Energy and Water and CMEC in 2014. (macauhub/AO/CN)