Caculo Cabaça – Angolan minister of Energy and Water João Baptista Borges said in Cuanza Norte that the financing for the continuation of the Caculo Cabaça dam works is secured.
The minister, who did not elaborate further details, said that various financing solutions are underway to complete the dam.
João Baptista Borges was speaking to the press at the end of his visit to the construction works of the infrastructure.
He assured that regardless of some of the constraints that have arisen since the works began, such as the restructuring of the project, the Executive remains committed to raising financial resources in order to meet deadlines.
The first generator is expected to start operating in October 2026.
As for the "slowdown" in payments to the contractor, the minister explained that this was due to bureaucratic issues on the part of the Chinese, as the financier of the civil component, as well as a German bank, the financier of Voith, the company responsible for supplying the electromechanical equipment.
He clarified that of the total amount of the contract to be carried out by the contractor China Gezhouba Group Company Limited (CGGC), USD 3 billion are earmarked for the general excavation, construction of the gallery, powerhouse, restitution tunnels and the wall.
The remaining USD 1.2 billion will be spent on acquisition of electromechanical equipment, such as turbines, alternators, lifting and control systems, as well as the crane.
Work is currently underway to remove waste from the perimeter of the sea wall, after the river diversion process was completed in May.
He said that this process will make it possible to increase the workforce from the current 2,300 to 6,500 by the end of 2024. MF/IMA/CRB/DAN/NIC
