China Loans $367.5 Million to Congo for Hydroelectric Plant
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China will loan Democratic Republic of Congo $367.5 million to construct a 150 megawatt hydroelectric plant in southwest Bas-Congo province, according to the Chinese embassy in the central African nation.
The Zongo II plant will be built by Sinohydro Corp., China’s largest water projects developer, with concessional loans from China’s Export Import Bank. Construction will take three years, creating 2,000 temporary and 300 permanent jobs, said the statement, which was published on the embassy’s website.