China signs to finance massive hydroelectric dam in Guinea

Conakry, Guinea — ESI-AFRICA.COM — 15 August 2011 – The Government of Guinea and the China International Water & Electric Corporation have signed an agreement for the construction of a US$526 million hydroelectric dam in the West African country.

Guinea will contribute 25% of the funding for the project, which will be situated about 150km northeast of the capital, and China International Water & Electric the rest, according to the agreement signed here.
 
The new Kaleta dam will have a capacity of 240.5MW, Guinea’s energy minister Papa Koly Kourouma said during the signing ceremony. Construction would begin by December and last 48 months, he added.