• 10 tips to find bargains

    Susan Erasmus gives advice on how bargain hunters can get the most bang for their buck.

  • Inside Labour

    Labour's bitter breaches need to be seen in historical context, says Terry Bell.

  • Rich getting richer

    Economists differ on how to tackle the chasm between rich and poor, says Leopold Scholtz.

Loading...
See More

SA, DRC to revive Inga power project

Nov 11 2011 12:02 Reuters

Related Articles

SA in bid to revive Inga power project

Eskom 'committed to cleaner power'

World Bank grants second loan to Eskom

Necsa refutes R1 trillion nuclear cost

Sugar industry ready for green energy

State misses solar geyser target

 
Johannesburg - South Africa and the Democratic Republic of the Congo (DRC) will sign an agreement this weekend aimed at kickstarting a stalled $8bn to $10bn, 5 000 megawatt hydropower project on the Congo River, the presidency said in a statement.

The memorandum of understanding will be signed in the DRC by the two countries’ energy ministers, the statement said.

Experts consider the mammoth Inga hydropower scheme on the Congo River one of the single largest projects to help provide power as Africa strives to meet rising energy demands that has curtailed economic growth on the continent.

“President Zuma has directed that the process of negotiations for a treaty to give effect to the MoU (memorandum of understanding) must commence immediately, and be completed within the next six months.

"The proposed treaty will create an enabling environment and necessary framework for the implementation of the project, including defined milestones for the execution of the Grand Inga Project,” the presidency statement said.

The African Development Bank (AfDB) said in June the plans to develop the project may be too risky because of costs and time.

The bank has financed a study for the DRC to optimise development of the Congo River’s immense hydropower potential, and a pre-feasibility study was expected this year.

Last year, the DRC rejected a proposal by the Western Power Corridor (Westcor), a joint venture between five southern African governments and power utilities, that would have led to exports of up to 3 000 MW to South Africa and another 1 000 MW to neighbouring countries by 2015.

The DRC’s huge network of rivers has a hydropower potential of 100 000 MW, according to the government. But it produces only a fraction of that, and only 9% of the population is currently able to access electricity.
drc  |  energy  |  hydro power

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

Brought to you by BizNews

More from BizNews

We're talking about:

SMALL BUSINESS

Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.
 
 

10 most expensive cars In the world

This is car porn at its best!

 
 

Luxury living

Seven of the most expensive children's toys ever made
5 millionaires turned murderers
The youngest billionaires in the world and how they made it
Watch: Flying first class has never been this luxurious!

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

How do you see your boss? He/sheis:

Previous results · Suggest a vote

Loading...