The government of Tanzania has signed a deal with Russia-based Borodino for the construction of the $700 million Rumakali hydropower plant in Tanzania's Iringa region, news agencies reported.
Construction of the 222-MW hydropower station will begin by 2013, and the plant is expected to come online by 2018, according to reports.
Power from the plant will be sold to Tanzania Electric Supply Company, known as Tanesco, the state power utility, wire services reported.
In other news, South Africa power utility Eskom said it has signed two export credit agency loans for a total of 171.7 million euros (US$217.3 million) to fund parts of its Ingula pumped-storage hydro plant and its Medupi thermal plant.
Eskom said it had negotiated a loan of 108 million euros with Deutsche Bank and one for 63.7 million euros with Credit Agricole CIB, both acting as sole arranger, agent and lender.
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