Ethiopia signs $ 300 million deal with 10 companies for projects
Ethiopia has signed agreements worth US$300 million with 10 international companies who will help in the upgrading of its ambitious hydro power projects on the Nile River and also provide consultancy work.
The agreement also includes construction and upgrading of power transmission systems and engineering work for the massive Great Renaissance Dam.
The agreement will enable Ethiopia to build an additional 17 000 km transmission line and construct around 17 new sub stations in addition to the existing 22 substations that will be graded.
Ethiopia is undertaking a number of multi billion hydro electric power projects along the Nile, which will enable it to meet domestic electricity demand and export surplus to neighbouring countries.
The Renaissance Dam alone is expected to generate around 5 250 MW of power.
This project, to be finalised within the next three years, will cost the government US$ 5 billion.
Three more hydro electric power projects are also being built in various parts of the country as part of a five year strategic plan to generate around 10,000 MW of electricity.
Meheret Debebe, the CEO of Ethiopian Electric and Power Corporation said the country was currently supplying electricity to Djibouti and will start exporting to Sudan next year.
The African Development Bank has given Ethiopia US$ 228 million for the projects while the Chinese government gave US$ 21 million.
Companies who are part of the agreement are from the United States, Germany, France, Spain, Italy, Canada, India and Bosnia among others.