(2 minutes read)
· Spain’s Actividades de Construccion (ACS) has announced
its withdrawal from the multi-billion dollar Inga 3 hydroelectric
project in Democratic Republic of Congo
· The Government of DRCwas still awaiting a formal
notification of ACS’s withdrawal.
Spain’s Actividades de Construccion (ACS) has announced its
withdrawal from the multi-billion dollar Inga 3 hydroelectric project
in Democratic Republic of Congo (DRC). This has given a jolt to the
host country’s plans to develop Africa’s largest hydroelectric plant.
A consortium led by Actividades de Construccion Servicios entered
into a preliminary agreement with the Chinese company “Three Gorges”
in 2018 for building 11,000 megawatt project. The glitches were
developed before the ink of the agreement got dried. The two sides
were unable to reach a consensus as to how to proceed with the
construction. Though the ACS has made clear that it would not
participate in the project, it did not give any reasons for doing so.
Development of Inga 3, part of a planned series of dams along the
Congo River, could eventually produce more than 40,000 MW. The
Government of Congo was still awaiting a formal notification of ACS’s
withdrawal. The project has been facing financing issues. In 2016, the
World Bank suspended tens of millions of dollars in funding;
criticizing Inga 3’s “strategic direction” after the government
assigned the portfolio to the president’s office.
Belgian Prime Minister Sophie Wilmes recently visited DRC and is
reported to have discussed about the withdrawal with DRC President
Tshisekedi. The outcome of the meeting is still not known. However,
Belgian Prime Minister t in a twitter said that her country wanted to
strengthen ties with the DRC in all respects. She added that the
partnership and cooperation could develop at military, economic and
security areas. The Belgian PM was leading a political and diplomatic
mission for a three-day visit during which she had meetings with
leaders of the business community and some NGOs.
