Angola: $18 billion for energy infrastructures

7 September 2010

The government of Angola has just announced that it intends to invest 18 billion dollars by 2016 in the construction of energy infrastructures, in order to remedy the shortfall which is affecting the country.

Minister of State Carlos Feijó, whose words were picked up by the Angop press agency, explained that the State is going to take responsibility for "the realisation of these investments by setting up a fund which will be fed by oil revenues on 100 thousand barrels/day and executed in accordance with the rules of the General State Budget".

The State of Angola is also shortly going to launch a call for tenders to increase electricity production at several dams in the country: the Cambambe dam and the hydroelectric dam on the river Mbridge.

Investments in energy, water, ITC and transport infrastructures are increasing dramatically in Africa. Approvals by the African Development Bank quadrupled between 2003 and 2009, reaching 12.6 billion dollars in 2009, announced the institution in a press release this week.

Category: Energy