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The capital needed for construction of the Boroma and Lupata hydroelectric dams in Mozambique, as well as their transmission lines, is under negotiation with foreign partners, according to the Mozambican press. Paul Ratilal, representative of the concessionaire companies Hidroeléctrica de Boroma and Hidroeléctrica de Lupata, said “the required capital will be US$1.8 billion, not counting construction of the transmission lines needed to connect the dams to the national grid. ”
Hidroeléctrica de Lupata’s shareholder structure includes Hydroparts Holding and Cazembe Holding, both from Mauritius, Electricidade de Moçambique (EdM) and Sonipal from Mozambique and Hidroeléctrica de Boroma’s shareholders include Rutland Holding (Mauritius), EdM and Sonipal as quoted by Macauhub news agency.
The Boroma hydroelectric plant has an estimated cost of US$572.5 million and a construction period of five years, while the Lupata facility will cost US$1.072 billion and is expected to take a similar amount of time to build.
When completed, the Lupata dam will produce 612 megawatts (MW), while the Boroma dam will have a production capacity of 210 MW.
Ratilal also told Mozambican daily newspaper Notícias said that a 10 percent share of the two companies has been handed over free of charge to the Mozambican state, twice the amount stipulated by law, and an additional 5 percent stake will be sold in a public offering on the Mozambique Stock Exchange.