The Ethiopian Electric Power Corporation (EEPCo) signed yesterday power transmission project contracts worth around 330 million dollars with companies from ten countries.

Indian companies take the biggest share of the contract winning three contracts worth more than 50 million dollars. 

Among the companies which entered into agreements with EEPCo are Energoinvest DD of Bosnia & Herzegovina, ALISTOM GRID of France, ABB AG of Germany, AECOM of USA-Canada and Norinco International Limited of China.

The projects are expected to be completed within 12 to 24 months.

French and Italian companies have agreed to provide consulting services to EEPCo for the Renaissance Dam which is currently under construction.

In December 2010, the African Development Bank had agreed to provide about 235 million dollars soft loan and grant according to Lamin Baro, representative of the bank to Ethiopia.

The Chinese government has contributed about 20 million dollars. The government of Ethiopia is expected to cover the balance.

According to the EEPCo, the construction of Gibe III-Addis Ababa power transmission project and Genalle dawa-3 hydropower plant are being financed by the government of China. The Chinese government bank is providing 180 million and 296 million dollars for the projects.

Source: New Business Ethiopia