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ANGOLA: Joint venture construction plans for proposed $45,000,000 build-operate (BO) hydropower plant, ALROSA CO. LTD. [Russia] & EMPRESA NACIONAL DE ELECTRICIDADE (ENE) [Angola] - Order #: 046303.

Publication: WWP-Business Opportunities in Africa & the Middle East
Publication Date: 01-APR-03 		Format: Online - approximately 950 words
Delivery: Immediate Online Access

Article Excerpt
PROJECT OVERVIEW:

A Russian/Angolan joint venture, operating under the name of HIDROCHICAPA, was recently established in view of building a new hydro power plant in the country. The partners in the planned undertaking and their respective shareholdings include Russia-based ALROSA CO. LTD. (55%) and the local EMPRESA NACIONAL DE ELECTRICIDADE (ENE - 45%).

According to the terms of the collaborative agreement, the partnership will build the first privately owned power station in Angola. In so doing, the project is to be implemented on the basis of a build-operate (BO) scheme and, the concession is expected to last for 40 years. The generated power will be used to supply the needs of the Catoca diamond mine, which reportedly produced about $170,000,000 of diamonds in 2001.

The cost to complete the project has been pegged at $45,000,000 and, ALROSA is...

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