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ABL 3220

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UGANDA TO FINANCE $1.3 BILLION NILE HYDROPOWER PLANT - Fred Ojambo

Uganda will finance the construction of a $1.3bn hydropower plant itself after attempts to attract investors to the project failed. It will fund the 500 MW Karuma hydropower dam on the Nile river, but it's not clear when construction will start. The government took over the project in 2008 when NORPAK POWER LTD of Norway withdrew. Construction was supposed to have started over a year ago.

09 Feb 2010 10:20