Ghana to secure China financing for 400-MW Bui

Ghana is close to finalizing a US$600 million deal with a Chinese corporation to build 400-MW Bui Dam on the Black Volta River, Ghana’s energy minister said during a Chinese summit for more than 40 African nations.

“It’s virtually done. What’s left is that we would like the Chinese to increase the grant element from 50 to 70 percent,” Energy Minister Joseph Adda said. �That means we would pay for 30 per cent of the cost instead of half.”

Ghanaian President John Kufuor met November 2 with Fan Jixiang, group president of Sino Hydro Corp., which is bidding to build the dam at Bui. (HNN 6/21/06)

“The financing is going to come from the China Eximbank,” Adda said.

Ghana is rationing electricity due to low water levels at two dams on the Volta River. Its power is generated largely from the 1,062-MW Akosombo and 160-MW Kpong projects on the Volta River in the southeast, plus a 550-MW thermal plant at Aboadze in the west. (HNN 10/19/06)

“The Bui Dam is uppermost in my heart,” President Kufuor told Fan. “And I’ll be discussing it with President Hu Jintao.”

Over the last year, China has been rapidly expanding its links with the African continent, seeking fresh supplies of oil and raw materials to feed its fast-growing economy and backing major infrastructure projects.

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