China Gezhouba Group Company Limited, a Chinese-based construction & engineering firm, is expected to build the Caculo Cabaca mega hydropower venture in Angola in the North Kwanza province of the Dondo region. If reports from reliable sources are to be believed, this is the biggest hydroelectric power station to be set up across the African continent and will satisfy the power supply requirements of the country, in addition to providing a boost to the regional hydropower market.
Caculo Cabaca hydroelectric power initiative has been estimated at USD 4.5 billion with a planned installation capacity of nearly 2,172 megawatts. The venture is anticipated to be culminated within a span of 80 months, and is expected to contribute substantially in terms of socio-economic growth as well as infrastructural development of the country. Experts claim that this mega project is certain to curb the shortage of power supply in a long run.
The project will prove beneficial for the country in more ways than one – for starters, the project will help to generate a plethora of employment opportunities in the region. As per official statements released by authentic sources, the ongoing construction work on the project will provide employment to nearly 10,000 locals. In addition, keeping in accordance with the agreement between CGGC (China Gezhouba Group Company) and Angolan authorities, the former will be held accountable for the plant operations as well as maintenance over the period of the first four years. In this period, CGGC is expected to provide training to the technical staff of the country and guide the experts in handling the power plant operations effectively.
Reports state that Angola is one of the biggest trading partners of China along with being the largest importer of its goods & services in Africa. Angola and China have shared amicable business relationships with each other since the pre-independence days of the former. The latter has made investments amounting to nearly USD 50 billion across the region to improve the infrastructure of the African country.
For the record, the trade between the two nations was evaluated at nearly USD 25 billion in 2010, reaching the pinnacle of growth. In the entirety of 2011 and the first two months of the latter half of 2012, Angola was the second biggest business partner of China across the African continent after Republic of South Africa.
Dhananjay develops content for Market Size Forecasters. A post graduate in mathematics as well as business administration, he worked as a process executive in Infosys BPO Limited before switching his professional genre. Following his childhood passion, he opted for a career in writing and now pens d...