Ghana Parliament approves €11.9m credit facility from Belgium’s KBC Bank for power project
Page last updated at Thursday, June 28, 2012 9:09 AM //
Ghana’s Parliament on June 26, 2012 approved a €11.9-million credit facility from the KBC Bank NV, Belgium for the design, manufacture and installation of a 161kV transmitter under the Kpando-Kadjebi power project in the Volta Region.
The project also covers the supply of all goods, services and the construction of all associated substations and lines under the project.
The Chairman of the Finance Committee, Mr James Klutse Avedzi, moved the motion for the adoption of the report of the committee on the credit facility while the Deputy Minister of Finance and Economic Planning, Mr Fifi Kwetey, moved for the adoption of a resolution to approve the facility.
The Ghana Grid Company (GRIDCo) intends to improve the reliability of power supply to the Electricity Company of Ghana (ECG) and the Northern Electricity Distribution Company Limited (NEDCo) by extending 69kV supply from the existing Kpando Substation to Kadjebi and the construction of a 69/34.5kV substation at Kadjebi for supply the town and its environs.
The Kpando-Kadjebi Power Project (KKPP) would ultimately form part of the 162kV line from the south to the north of Ghana through the eastern corridor.
The project is expected to increase the reliability of power supply to the Volta Region and Northern Ghana and provide alternative supply source to the north when the eastern corridor power supply is completed.
In addition, it will improve the supply quality by ECG and NEDCo to existing consumers, to promote small and medium scale industries and create jobs to improve standards of living and reduce poverty.
The project is expected to be completed within 18 months after its commencement.
Source: Daily Graphic