APA-(Addis Ababa) Ethiopia and an energy giant in Bosnia have agreed a $45 million power transmission line deal, the Ethiopian Electric and Power Corporation (EEPCo) said on Thursday.
The deal was struck this week between Energoinvest, Bosnia’s largest engineering group and the EEPCo alhough a formal signing ceremony will be held next week in Addis Ababa.
Under the terms of the agreement the Bosnian energy giant will build a 230 KV power transmission line in Ethiopia as part of the Ethiopian government’s plan to transmit power from new hydro electric plants across the country.
Ethiopia is currently building a multi-billion dollar investment on hydro power projects, including the recently launched project to build Africa’s biggest dam over the Nile River. The dam to be called the Great Ethiopian Renaissance Dam is expected to produce 5,250 MW of power upon its completion over the next three years.
Another three hydro electric projects are also being carried out in the country, including a power transmission line.
The Bosnian and EEPCo project according to the corporation will be finalized in two years.
Ethiopia recently launched a five-year growth and transformation program aiming to undertake a multi billion investment on various sectors, including hydro power plants.
The country, home to around 80 million people plans to produce 20,000 megawatts of power within the next decade, which will cost the country an estimated $12 billion over 25 years to raise power generating capacity and become a major exporter on the continent.
Ethiopia has started exporting power to neighbouring Djibouti and is due to begin power supply to Sudan later this year.