KAMPALA, Uganda -(Dow Jones)- Construction work at Uganda’s 250 megawatt Bujagali hydro power project is expected to start by the end of this month following the approval of the project by the World Bank, a company official told Dow Jones Newswires Wednesday.
“Construction work will start by the end of this month,” said Bujagali Energy Ltd. spokesman Jimmy Kiberu.
Kiberu said the project will start with around $75 million advanced by the Ugandan government.
Last week, the World Bank approved up to $360 million in loans and guarantees. Total project costs are expected to reach $799 million and the dam will be commissioned in 2011.
Bujagali Energy Ltd. is a joint venture between IPS and the U.S.-based international development company Sithe Global Power, LLC, which has established Bujagali Energy Ltd. to implement the project.
IPS is the industrial development arm of the Aga Khan Fund for Economic Development – a member of the Aga Khan Development Network.
Ismailimail 