Utility CVG Electrificacion del Caroni (Edelca) has named an international consortium to build the 2,160-MW Tocoma hydroelectric project on Venezuela’s Caroni River.
Italian construction company Impregilo SpA said January 23 the US$968 million contract was awarded to a consortium including Impregilo with 40 percent, Brazil’s Odebrecht S.A. with 45 percent, Venezuela’s Vinccler C.A. with 10 percent, and Brazil’s CBPO Engenharia Ltda. with 5 percent.
Impregilo said the contract was awarded provisionally after an international tender and that closing is expected soon.
The contract calls for a 300-meter-long, 82-meter-tall concrete dam and hydropower station. Impregilo said it has begun preliminary works in preparation for dam construction.
The Inter-American Development Bank approved a US$750 million loan for the US$3 billion project in 2005. Venezuela President Hugo Chavez renamed the project Manuel Piar in 2006. When complete, it will be the fourth hydropower plant in the lower Caroni River Valley, which provides 70 percent of Venezuela’s electricity.