The Chinese group CNEEC said it was ready to disburse nearly 215 million euros (more than 230.4 million USD) for the rehabilitation and modernization of three groups of the Inga hydroelectric dam. The agreement in principle on the financing of this project was delivered, Wednesday in Beijing (China), to the director general of the National Electricity Company (SNEL).
This offer is part of the bilateral cooperation between China and the Democratic Republic of Congo.
At the end of the work, the Inga dam will recover 510 megawatts.
This energy will enable SNEL to improve its electricity supply in the country.
The work will begin within two months and will last two years, according to the acting director general of SNEL, Teddy Lwamba.
The counterpart of the Congolese government in this project is more than 32 million euros, or 15% of the overall cost.
CNEEC, which provides the 85% repayable, is a subsidiary of the CMOC group, majority shareholder of Tenke Fungurume Mining.
CMOC will also finance, to the tune of 610 million US dollars, the construction of a hybrid hydro-solar dam with a capacity of 638 megawatts in the Lualaba river basin, with a view to improving service to mining areas in the south of the DRC.