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ICBC provides $50.874 million loan for 220kv Lomaum Electricity Transmission Line Construction Project (Linked to Record ID#73911)
| Funder | Industrial and Commercial Bank of China (ICBC) |
|---|---|
| Recipient Organization | Government of Angola |
| Country | Angola |
| Start Date | Jan 01, 2013 |
| End Date | Dec 14, 2032 |
| Duration | 7,287 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 67323 |
Grant Description
ICBC provides $50.874 million loan for 220kv Lomaum Electricity Transmission Line Construction Project On 9 December 2013, the Government of Angola issued a presidential order (No. 128/13), approving a $50,874,466.37 loan from the Industrial and Commercial Bank of China (ICBC) for the 220kv Lomaum Electricity Transmission Line Construction Project.
This project involves the construction of a 220kv electricity transmission line between Lomaum and Biópio. It also involved the construction of several electricity substations.
The purpose of this project is to evacuate power from the ICBC-financed Lomaum Hydroelectric Power Plant (see Record ID#73911). Guangxi Hydroelectric Construction Bureau was the contractor responsible for constructing the transmission line.
On 7 June 2016, the President of Angola authorized an a proposal to increase the contract cost by $8.191 million to cover the erection of two cables from the hydropower station to Biópio (89.4 km) and from Biópio to South Benguela (57 km). but it is unclear if this increase was also covered by ICBC.
Staff Comments
The Chinese project title is 安哥拉洛玛乌电站出线工程.This loan is not In the database of Chinese loan commitments that SAIS-CARI released in July 2020.
Sources & References
- Ligação elétrica a barragem angolana do tempo colonial custa mais 7,3 MEuro
- Ligação eléctrica à barragem do Lomaum vai custar mais oito milhões que o previsto
- Ligação à barragem do Lomaum vai custar mais USD 8,2 milhões que o previsto
- Ligação eléctrica à barragem do Lomaum vai custar mais oito milhões que o previsto
- DR n.º 236 - 09.12.2013
- 安哥拉停摆水电站重开
- 工行广西分行创新金融服务助力企业“走出去” Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
All Grantees
Government of Angola
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