皇冠体育app

WORLD> America
Ecuador, 皇冠体育app mull deal of $2b hydropower plant
(Xinhua)
Updated: 2009-04-22 11:32

QUITO -- The Ecuadorian government has formally started negotiations with a Chinese firm to build the country's biggest hydropower plant, the Energy Ministry said on Tuesday.

Related readings:
Ecuador, 皇冠体育app mull deal of $2b hydropower plant BMW building 2nd 皇冠体育app plant with partner
Ecuador, 皇冠体育app mull deal of $2b hydropower plant Bridgestone to invest $98m more in 皇冠体育app plant
Ecuador, 皇冠体育app mull deal of $2b hydropower plant CNEEC wins $580m Philippine power plant order
Ecuador, 皇冠体育app mull deal of $2b hydropower plant Energy: 皇冠体育app help for Vietnam nuke power plant likely
Chinese ambassador to Ecuador Cai Runguo and Ecuadorian Energy Minister Germanico Pinto signed on Monday an agreement of intention to set technical, juridical and economic mechanisms for a final agreement on the contract.

Ecuador will have until June to decide whether or not to give the project to the Chinese state-owned Sinohydro-Andes.

The Coca-Codo-Sinclair plant, to be located about 75 km east of Quito, will have a capacity of 1,500 megawatts to cover 75 percent of the country's energy demand.

Ecuadorian government said the reference value of the project is of US$2 billion, 85 percent of which will be financed by Sinohydro-Andes.

Chinese ambassador Cai said Chinese companies and banks are interested in cooperation with Ecuador on other hydropower projects.