Chinese civil contractor Sino-Hydro Group has committed $150 million in pre-finance for Uganda’s 600MW Karuma hydropower station, after winning a protracted battle for the contract that has dragged on for nearly two years.
The commitment, made as part of a memorandum of understanding signed between the Energy Ministry and the Chinese firm on June 20, means construction work can start even as the government moves to close financing deals with China’s Exim Bank that is expected to underwrite the project.
