Ecuador signs agreement with Eximbank China for electrical power financing

Posted on October 30, 2014 • Filed under: China, Ecuador

laht.com reported Ecuador has signed an agreement with Eximbank of China by which the bank will finance an electrical power transmission system originating at Coca Codo Sinclair, the country’s largest hydroelectric plant, which is expected to become operational in January 2016. The agreement was sealed Wednesday during the visit by Ecuador’s Coordinator Minister of Strategic Sectors, Rafael Poveda, who will hold several meetings in the Asian country from Wednesday to Friday to encourage investments in the oil and electricity sector. According to an official statement, Eximbank will provide $509 million for the project whose estimated total cost is around $602 million. Read Article

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