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BIZCHINA> Top Biz News
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Ecuadorian president hails Sinohydro investment
(Xinhua)
Updated: 2009-04-08 11:14 Ecuadorian President Rafael Correa hailed on Tuesday China's investment of over $1 billion in the country's largest hydroelectric plant Coca-Codo-Sincalir.
The other 15 percent will be funded by Ecuador and Argentina, he said. The 1,500 MW plant, located some 75 kilometers east to Quito, will be the largest in the country. Ecuador, which has long been troubled by power shortages, spent roughly $26.9 million on importing electricity from Colombia in 2008, according to a report issued by the National Center for Energy Control in January. Ecuador expects in 2009 another Chinese investment of $1 billion in oil and energy sectors. (For more biz stories, please visit Industries)
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