Brazil's Camargo Correa to bid for hydroelectric power projects in Ghana

ghana dam optThe Brazilian ambassador to Ghana has announced that Sao Paulo-based construction company Camargo Correa plans to bid for hydroelectric power projects in the African nation

According to Bloomberg, the ambassador, Irene Vida Gala, said Camargo Correa was already in preliminary talks with state officials to set up a base in Ghana.

Earlier this year, the government of Ghana revealed plans to spend up to US$4.5bn to double the nation’s power capacity. The country is expected to add 2,500MW of power to its national network over the next ten years to halt outages and meet domestic demand.

Camargo Correa would become the fifth construction company from Brazil to enter Ghana, joining companies such as Embraer and construction firms Odebrecht and Queiroz Galvao.

According to Gala, Brazil has doubled the number of its embassies in Africa to 37 in the past decade to strengthen political and commercial ties with the continent. As of 2012, Brazil’s trade with Ghana reportedly amounted to US$400mn.

Ghana and Brazil are also planning to set up a US$1bn credit facility in the African nation in the near-term, Bloomberg reported.

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