Ethiopian Electric Utility secures $500M Chinese loan
The Ethiopian Electric Utility (EEU) has secured a loan worth $500M from the Chinese government for the rehabilitation of electric power distribution lines in 54 towns and construction of distribution centres at 17 industrial parks.
The financing was granted through the State Grid Corporation of China, which is undertaking the project, reports Asoko Insight.
Besides rehabilitating electric power distribution lines, the funds will be used for the construction of electricity distribution centres at 17 industrial parks, three of which are currently operational, and the remaining are under construction.
“Power supply to these industrial parks is a major challenge for the manufacturing industry,” said Prime Minister Hailemariam Dessalegn three months ago while addressing the Parliament. “In addition to finalising the ongoing power generation dams and distribution centres, rehabilitating and maintaining the distribution lines are a way out of this challenge.”
Source: Asoko Insight