Angola to invest $ 400 mm in restoring power grid

Feb 19, 1997 01:00 AM

Angola will soon begin reconstructing its national power grid network which was seriously damaged during the 19-year civil war.Paulo Matos, the head of the Angolan Electricity Company, said that the total investment for the reconstruction plan, drafted by his firm and the Portuguese Electricity Company, might exceed $ 800 mm. In the first stage of the 20-year implementation of the plan from 1997 to 2001, $ 400 mm would be spent on restoring those war-damaged power facilities, he said. Between 2001 and 2016, the plan would focus on building new power plants and hydropower stations in the southern African country. More than $ 400 mm are estimated to be needed in this stage. The government would properly arrange the investment during the implementation of the plan so as to meet the demand of the country for power, he added.

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