China Machinery Engineering Corp (CMEC) announced on Wednesday that it signed a contract on November 1 with the Ministry of Water Resources and Energy of the Republic of Cameroon for a hydropower plant project in Ngoila, Cameroon.
Valued at $398.2 million, the contract is for the construction of a plant with an installed capacity of 84 megawatts and a transmission line, CMEC said in a filing to the Hong Kong Stock Exchange.
The project will start upon the satisfaction of certain conditions and its construction period will last for 57 months, according to the filing.
The Cameroon government has been taking advantage of the country's abundant water resources to build many such plants, in which Chinese companies have participated, Xinhua News Agency reported Thursday.
