Sounda S.A.

cancelled

Construction of the first phase 50-MW phase of the 240-MW hydro-power plant at Sounda commenced in July 1996. Located on the the Kouilou River, the project was expected to produce an estimated 14 billion cubic meters behind a 45-meter high dam. The plant was being developed by a joint venture between the Government of the Republic of Congo and Interpro of South Africa, which is the majority partner. Interpro was the project's primary contractor and Sulzer and ABB were the equipement suppliers. Financial closure of the first stage of the project was achieved in February 1996. Debt financing was obtained from the Rand Merchant Bank of South Africa. The South African Credit Guarantee Agency is providing political risk guarantees. The initial estimated cost of the project is $325 million. The plant was expected to become operational during 1999. The developers indicated interest in expanding the project to 1000-MW at a later date. Many of the works for the Sounda project were halted in 1997 during the country's civil war. The anticipated project expansion to 1000-MW underwent feasibility studies in 2000. The added capacity was expected from completion of a hydroelectric dam. A determination on the proposed dam's future had not been determined by 2005. None None