The Hydropower Development Agreement is Formally Signed

On October 18, 2019 (Beijing time), which was on October 17 (local time in Kinshasa), Zhou Yuefei, the President of CHFE, and Muhanzi Mubembe Eustache, the Minister of State of Democratic Republic of the Congo and Minister of Ministry of Water Conservancy and Electric Power, jointly attended the cooperation signing ceremony of hydropower development project in INKISI River Basin and LUVUA River Basin in Democratic Republic of the Congo (DRC). Pungu Lwamba Papy, Vice Minister of Ministry of Water Conservancy and Electric Power, Huang Zhongxin, General Manager of HFYJ Hydropower Development Co., Ltd. as CHFE’s subsidiary company, and Zhai Ziyi, General Manager Assistant of China Energy Construction Group Co., Ltd. as CHFE’s cooperative partner also participated in the signing ceremony.

Before the signing ceremony commenced, both sides held a symposium. Then the President Zhou Yuefei and Muhanzi Mubembe Eustache formally signed the Hydropower Development Agreement of LUVUA River Basin and the Hydropower Development Agreement of INKISI River Basin. So far, both sides announced the establishment of a bilateral win-win cooperation relationship based on the cooperation of these two river basins.
 

The INKISI River and the LUVUA River are two main tributaries of the Congo River. The INKISI River originates in the northern part of Angola and flows through Bas-Congo Province of DRC, with 216km long river reaches in DRC. The LUVUA River is located in Tanganyika Province in the southeast of DRC, which originates from the MWERU Lake at the border between DRC and Zambia and has a total length of about 350km. According to the planning, 12 hydropower stations will be constructed on these river basins with a gross installed capacity of 4,000MW. After the project is put into operation, the annual energy output will reach 22,000GWh, which will fundamentally lift the DRC out of power shortage.
 

The signing of cooperation agreement is a correct choice made by both sides based on the principles of resource allocation optimization, mutual trust and benefit under the great background of implementing “the Belt and Road” initiative. Before the signing ceremony, CHFE had conducted a long-term follow-up investigation on the hydropower resources, social environment and infrastructure of these two river basins and even the whole DRC, and made a lot of preliminary preparation and research work. The government of DRC also made multiple inspections and comparisons for CHFE. Both sides finally chose to trust each other through multiple consultations, reached a consensus and signed the agreement.
This cooperation opened a new chapter for CHFE’s overseas planning. We believe that the implementation of this project will assist the economic development of DRC at high quality and high level, and this project will surely become a model of win-win cooperation between enterprise and government in “the Belt and Road” initiative.
 

After the signing ceremony ended, President Zhou Yuefei and Muhanzi Mubembe Eustache jointly accepted an interview by the State Television of DRC. They expressed optimism about the development prospect of this project and jointly wished the smooth implementation and early operation of this project.
 

In addition, the participants of the above activity further include CHFE’s working personnel engaging in the overseas projects, some officials from the Ministry of Water Conservancy and Electric Power of DRC, and local media personnel.
 

(Source: Integrated Management Department)