(Yicai Global) Dec. 7 -- China Machinery Engineering Corp. [HK:1829] (CMEC) has agreed a USD398.2 million contract with Cameroon's Ministry of Water Resources and Energy for the development of an 84-megawatt hydropower plant in Ngoila in the east of the country.
CMEC will act as engineering, procurement and construction (EPC) contractor, and also undertake design, installation, commissioning and training activities, the company said in a press briefing. Construction will take around four and five years.
Cameroon's local governments have looked to exploit rich water resources in recent years by developing hydropower plants, mostly in conjunction with domestic and foreign investors.
CMEC is a unit of China National Machinery Industry Corporation, the country's biggest machinery maker, and was one of the first Chinese enterprises to combine industrial and trade businesses. It constitutes a major foreign trade and international economic and technology cooperation company specializing in overseas construction contracting, as well as export and import of mechanical and electrical products.