China to Offer $500m Aid For Uganda’s $2.2b Karuma Power Project

Concessional funding in addition to Uganda govt’s $700m equity financing, Finance Ministry says in budget document handed to reporters in capital, Kampala. *Document doesn’t provide credit terms *Construction of 600MW hydropower plant to start before yr-end: ministry *NOTE: Construction of country’s biggest energy project delayed for 1 yr because of procurement irregularities *NOTE: China International Water and Electric, Sinohydro, Italy’s Salini Costruttori, Iran’s Perlite Construction, and Egypt’s Orascom previously bid for project

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