ABIDJAN Jan 24 Ivorian electricity producer
CIPREL, a subsidiary of Emerging Capital Partners, plans to
invest 165 billion CFA francs ($344.12 million) in two years to
raise output by 111 megawatts after announcing on Friday a 34
percent increase in capacity.
CIPREL's managing director Kouassi N'Guessan said the firm
has boosted its production capacity to 432 megawatts from 321
and plans to increase it to 543 megawatts by the last quarter of
2015 with a steam turbine.
"This project will contribute in securing power supply in
Ivory Coast, boost growth and strengthen the country's role as a
regional power supplier," N'Guessan said during a ceremony at
the company's site in Abidjan.
N'guessan said CIPREL will contribute 35 billion CFA to fund
to the project. The World Bank's investment wing International
Finance Corporation will invest 100 million euros ($136.80
million), the African Development Bank 50 million euros and
French development finance institution Proparco also 50 million.
Ivory Coast, the world's top cocoa producer and Francophone
Africa region's economic powerhouse is a regional power
exporter, supplying Ghana, Burkina Faso, Togo, Mali. It plans to
interconnect with Liberia, Sierra Leone and Guinea.
Its total electricity capacity is around 1,600 megawatts and
the government aims to push it to 4,000 megawatts by 2020 but
exports to its neighbours have been declining in recent years as
domestic demand has outpaced new power generation.
The country is recovering from decade-long political strife
that culminated in a violent post-election standoff in 2010 and
brief civil war in 2011 that crippled its economy.
The government is investing in various infrastructure
projects and plans to make Ivory Coast a regional electricity
hub, Prime Minister Daniel Duncan Kablan said at the ceremony.
"Within two years, we should be able to supply electricity
to Guinea, Liberia and Sierra Leone," Kablan said.
($1 = 479.4830 CFA francs)
($1 = 0.7310 euros)
(Reporting By Loucoumane Coulibaly; Writing by Bate Felix,
editing by David Evans)