Madagascar Plans 300 Megawatt Hydropower Plant, l’Express Says

Nov. 15 (Bloomberg) -- Madagascar plans to build a hydroelectric plant with capacity of as much as 300 megawatts south of Antananarivo, the capital, l’Express de Madagascar reported, citing officials at Hydelec Madagascar SA.

Investment in the first phase of the project will be 200 million euros ($271 million), with 105 megawatts to be generated by 2015, the newspaper said. An additional 80 million euros will be spent to increase capacity to 300 megawatts, it reported.

The Bank of Africa Madagascar is involved with the project, it said, and is looking for other financial partners.

To contact the reporter on this story: Kamlesh Bhuckory in Port Louis via Johannesburg at 1933 or gbell16@bloomberg.net

To contact the editor responsible for this story: Antony Sguazzin in Johannesburg at asguazzin@bloomberg.net