The Ministry for Industry and Energy has issued a press release reporting that an agreement has been reached with the contractor Douglas Alliance LTD to restart work on the Sendje Hydroelectric Power Station.
As a consequence of the difficulties encountered during the execution of the project, the work was stopped from 1st February 2016 until today.
The parties held various meetings to restart the project, and these negotiations concluded today with the signing of an Addendum.
The project in question is now over 50% complete, and to date some 299,490,000 Euro has been paid, with some 330,510,000 Euro outstanding. That is to say, the total cost of the project is 630,000,000 Euro.
It is expected that the power station will be finished and handed over to the Government within 31 months.
Source: Official Web Page of the Government of the Republic of Equatorial Guinea