CHINA Energy Engineering Corporation (CEEC) has signed a US$360 million Engineering, Procurement and Construction (EPC) contract for a hydropower project in the Democratic Republic of the Congo (DRC).
In an announcement made via the Hong Kong Stock Exchange, CEEC said that its subsidiary China Gezhouba Group International Engineering had signed an EPC framework contract with Congo Infra.
The contract covers construction of the Nzilo 2 hydroelectic station project, which will have an installed capacity of 122.2MW.
According to the company statement, the project is located on the Lualaba River near Kolwezi in Lualaba Province, DRC, and is planned to be developed in two stages. The installed capacity of the first-stage hydroelectric station is 51.3MW, and the installed capacity of the second-stage hydroelectric station is 70.9MW.
The specific cooperation mode, settlement method, time limit of performance and liability for breach of contract of the project will be determined in the formal commercial contract. The framework contract agreement shall be effective upon signing for a term of two years subject to extension.
China Gezhouba Group Corporation is a core unit of China Energy Engineering Group, which is a state-controlled enterprise.