Congo’s government, through the Agency for the Development and Promotion of the Grand Inga Project, “signed
an exclusive development accord” with the China Inga 3 and ProInga groups at a press conference in the capital, Kinshasa.
* Via the agreement, Congo “endorses the constitution of a joint consortium by the two groups” which will submit “an optimized bid” to the government for the construction of an 11,000 megawatt hydroelectric plant on the Congo River, rather than an earlier 4,800 megawatt version
* Agency asked the two groups to work together last June
* The groups “commit themselves to finance implementation studies by updating existing studies to take into account the revised size of the project” and then submit the final design of the facility for approval by the state
* The groups “will then have to conclude concession and financing agreements”
* China Inga 3 includes China Three Gorges Corporation, State Grid International Development and Power Construction Corporation of China, while ProInga comprises Cobra Instalaciones y Servicios and AEE Power Holdings
* NOTE: Congo ‘Won’t Borrow a Dollar’ to Build $18 Billion Showpiece Dam