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Cameroon – Energy: Electricity Development Corp. to invest 65 billion CFA francs in hydroelectric and fisheries projects in 2017

Electricity Development Corp. to invest 65 billion CFA francs in hydroelectric and fisheries projects in 2017
Written by Deckson N.

The Board of Directors of Electricity Development Corp. (EDC), the developer of the Lom Pangar reservoir dam, was held on 10 January in Yaounde and adopted the budget for the financial year 2017, balanced in revenue and In expenditures to the sum of CFAF 72.323 billion, including CFAF 65.151 billion for investment and project management and CFAF 7.172 billion for operations and equipment.

The Council stressed, in particular, that by allowing a regularization of the course of the Sanaga River, the Lom Pangar dam, which was completely flooded in November 2016, “will authorize the development of other competitive hydroelectric projects along the river“. In this sense, said EDC, the plant under construction at the dam with a capacity of 30 MW will improve access to electricity for the people of the Eastern region.

EDC also announced that “the development of the fishing activity in the waters of the Lom Pangar dam opens up serious economic opportunities for investors“. This is all the more so since the hydroelectric dam has already attracted more than 6,000 fishermen with a turnover of around 30 billion CFA francs, According to the developer.

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Deckson N.

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