EIB said the total cost of the rehabilitation project is 600 million euros (US$845 million). (HNN 4/24/08) In includes rehabilitation of the 350-MW Inga 1 and 1,424-MW Inga 2 hydro plants on the Congo River and associated transmission and distribution infrastructure in the Kinshasa region and Katanga.
The project also includes construction of a new transmission line between Inga and Kinshasa and the rehabilitation of three substations in the Katanga region.
EIB said the funding, signed December 10, would require procurement of bank-financed contracts to be carried out according to bank guidelines.
The DRC announced in September it anticipates tendering for rehabilitation of the Inga hydroelectric complex and for technical support for its expansion. The World Bank's International Development Association approved a grant of about US$300 million to the DRC for development of electricity markets for domestic consumption and for export. (HNN 9/23/08)
The African Development Bank's signed of a US$58 million grant agreement to DRC in April for rehabilitation of Inga as well as work on the Kinshasa area distribution system.
A financier's conference was held in April in London for the proposed 4,300-MW Inga 3 hydro project. The five-nation Western Power Corridor Co. (Pty) Ltd. (Westcor) formally launched development of Inga 3 in February with a solicitation for advisers, consultants, and operational staff.