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Executive seeks over 247 million Euros for Laúca Dam

Sat, 24 Feb 2018 10:41 - Updated Sat, 24 Feb 2018 10:43

Malanje: Lauca Hydroelectric Power Plant

Photo: Pedro Parente

Luanda - More than 247 million Euros is the approved global amount of the financing agreement between Angola and Standard Chartered Bank to cover the energy transportation system associated with the Laúca Hydroelectric Plant.

The financial agreement approved in a presidential Decree published in State Gazette on February 20 to which Angop had access on Friday, will be initialed by the Minister of Finance.

This funding from Chartered Bank in favor of the Laúca dam will be added to another US $ 75 million, which will be made available by the South African Development Bank (DBSA).

Two of the six planned 334 MW turbines of Laúca dam are already in operation and the third starts operating in March.

When fully completed (by 2018), the dam will bring energy stability and the start of the process of interconnecting the north, central and southern systems of the country, and production will increase by about 122 percent.