Maputo, Mozambique — ESI-AFRICA.COM — 06 December 2011 – The North Plant “’ a project included in the second phase of construction of the Cahora Bassa Hydroelectric Dam (HCB) “’ will be finished by 2013, says HCB executive Gildo Sibumbe.
Cited by Mozambican daily newspaper Notícias, Sibumbe said that the idea behind the project was to export electricity generated at the new unit to West African markets.
“To ensure the sustainability of the company’s operation, large investment projects are underway, notably construction of the North Plant, with an estimated capacity of 1,245 megawatts (MW). It is expected to start operating within two years,” Sibumbe said.
The executive also noted that for the first time in the company’s history dividends had been paid to shareholders, relating to business in 2010 “’ a year in which operating results increased by 30% and net profit rose to US$35.8 million.