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Vol. XI Issue XI - November 2009
Project Management eJournal
REGIONAL REPORT:
Project Management News from Ecuador
By Irvin J. Franco, PMP
International Correspondent for PMForum & PM World Today
Guayaquil, Ecuador
Ecuador's biggest hydroelectric project
After five months of negotiations, on October 5th, the government of Ecuador and the Chinese company Sinohydro signed the contract for the construction of the hydroelectric project "Coca Codo Sinclair”. The project will have an investment of $ 1,979 million, and will be funded by 15% with Ecuadorian capital and 85% with resources from the Chinese Eximbank.
The power plant will use the waters of the Coca River, between the provinces of Napo and Sucumbios, located in central-east of Ecuador. The project will have an installed capacity of 1500 megawatts and will be operational by 2015. "It's the biggest foreign investment in the country's history," said the President of Ecuador, Rafael Correa.
The project will increase the capacity of hydropower production from 44% to 66%, and will cover the total energy demand by 70%.
According to Minister of Electricity and Renewable Energy, Esteban Muñoz, with this project Ecuador will have energy independence, and may even become an exporter of electricity.
To read entire report click here: (English) or (Spanish)
Irwin José Franco International Correspondent - Ecuador Irwin José Franco is a Project Manager at Image Tech, a leading web and multimedia solutions company based in Guayaquil - Ecuador. José has a B.A. in Visual Communications from Universidad San Francisco de Quito - Ecuador, and a Master degree in Project Management from Universidad La Salle, Madrid - Spain. He has more than 9 years of experience managing technological projects in the private sector. At the moment, he is working in the creation of the PMI Ecuador Chapter, and his main objective is to promote Project Management profession in his country. Mr. Franco can be contacted at irwinfranco@yahoo.es.
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