China Power Construction Wins 10 Billion African Hydropower Plant Contract

[Upstream and downstream of China's instrumentation network industry] China is increasingly focusing on promoting equipment and production capacity to "go to sea." China Power Construction Group announced on the 23rd that its subsidiary, China National Hydropower International Corp., has signed a contract worth 1.566 billion U.S. dollars (about 10 billion yuan) for Zambia's largest hydropower station.

Zambia under Kaifu Gorge (Source)

51-month construction of minerals for agricultural development According to reports, the next Kaifuxia hydropower station to be built is the first hydropower station Zambia has invested and developed over the past 40 years. The installed capacity of the hydropower station is 750,000 kilowatts, which will increase Zambia’s existing electricity by 38% to meet the country’s power needs for the next 5 to 10 years and provide stable power protection for mining and agricultural development.

China Power Construction Group is a wholly state-owned company and is mainly engaged in the development and operation of construction projects, power and water resources. The Group’s China Hydropower Group entered the Zambian market in 1999. As of the end of 2014, projects completed and under construction involved hydropower stations, transmission lines, and roads. Zambia is an important partner of China in Africa. The country’s water resources are abundant, and it contains 6,000 megawatts of electricity. In 2014, the installed capacity was only 2,203 megawatts, which has great potential for exploration.

In recent years, African emerging economies have significantly increased their investment in infrastructure construction. The priorities of the African Union's infrastructure development plan for 2012 to 2020 are related to energy, transportation, water resources, and communications. The total investment is expected to reach 67.9 billion U.S. dollars, of which the energy investment scale will be as high as 40.3 billion U.S. dollars.

This year, the contracted projects of China's enterprises will exceed RMB 1 trillion. At the same time, under the background of the slowdown in economic growth, the promotion of equipment and production capacity to “go to the sea” will be increasingly valued by China.

In May 2015, China proposed to use the neighboring Asia and Africa as the main cooperation directions in the near future to promote the “going out” of key industries such as railways, electric power and construction machinery. In this situation, Chinese companies are increasingly working on the African market. In addition to China Power Construction, China Railway Construction, China Energy Construction and other companies have also participated in many projects in Africa.

Recently, Chinese companies are accelerating overseas expansion through outward investment and project contracting. According to statistics, from January to October this year, the value of new contracts signed by China's foreign contracted projects was 921.53 billion yuan, a year-on-year increase of 18.3%.

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