Skip to content
AidData logo

Overview

ICBC provides $60 million buyer’s credit loan for 50MW Lomaum Hydroelectric Power Plant Rehabilitation and Modernization Project (Linked to Record ID#67323)

Commitments (Constant USD, 2023)$77,168,308
Commitment Year•2010Country of Activity•AngolaDirect Recipient Country of Incorporation•AngolaSector•EnergyFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2010
End (actual)
Feb 4, 2016

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

Loading map…

The Lomaum dam is located on the Catumbela river about 200 kilometers southeast of the city of Benguela. The purpose of the project was to improve power supply to 92,000 residents of four coastal cities — Benguela, Lobito, Catumbela and Baía Farta — in Cubal within Benguela province. More detailed locational information can be found at https://www.openstreetmap.org/way/663880514.

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Commercial Banks

  • Industrial and Commercial Bank of China (ICBC)

Receiving agencies

Government Agencies

  • Government of Angola

Implementing agencies

State-owned companies

  • Guangxi Hydroelectric Construction Bureau (GHCB)
  • Kanazuro Electric, S.A.

Loan desecription

ICBC provides $60 million buyer’s credit loan for 50MW Lomaum Hydroelectric Power Plant Rehabilitation and Modernization Project

Interest type•Unknown

Narrative

Full Description

Project narrative

In 2010, Industrial and Commercial Bank of China (ICBC) reportedly signed a $60 million buyer's credit loan (BCL) agreement with the Government of Angola for the 50MW Lomaum Hydroelectric Power Plant Rehabilitation and Modernization Project. The borrowing terms of the loan are unknown. Lomaum hydroelectric dam is located on the Catumbela river about 200 kilometers southeast of the city of Benguela. The dam was first constructed in 1959, but it stopped working in 1984 as a result of the country’s civil war. Therefore, this project aimed to update the hydroelectric power plant and expand the dam to 20 meters high and 250 meters long. The purpose of the project was to improve power supply to 92,000 residents of four coastal cities — Benguela, Lobito, Catumbela and Baía Farta — in Cubal within Benguela province. Guangxi Hydroelectric Construction Bureau Angola and Kanazuro Electric Company were jointly responsible for the implementation. The power restoration/modernization project started in 2009. The dam resumed commercial production on an experimental basis in June 2015, following restoration and modernization works, supplying electricity to domestic and industrial customers at low and medium voltage. The dam was officially reopened on 4 February 2016. In 2013, ICBC provided a $51 million loan for the Lomaum Electricity Transmission Line Construction Project, which evacuated power from the Lomaum Hydroelectric Power Plant (see Record ID#67323).