Business News of Wednesday, 24 July 2002
Source: Accra Mail
Eleven multi-national investors have expressed interest in and commitment to the construction of the Bui hydroelectric power project, the Energy Commission said in a press release issued yesterday in Accra.
The scope of the project includes detailed studies of geological, geotechnical, aerial and topographic surveys; preparation of specifications and preliminary designs for the project; final engineering design; and project implementation including civil works, supply, installation and commissioning of ancillary equipment.
The eleven have each procured the relevant documentation on the project to enable them submit proposals for the development and execution of the Bui hydroelectric power project.
The Bui project site is located on the Black Volta approximately 150 kilometres upstream of the Volta Lake.
Representatives of the investors have been invited to visit the project site to participate in site inspection and a pre-bid meeting from Wednesday, 25 July to Friday, 27 July 2002 at Bui.
The Government after assuming office in January, 2001, renewed its commitment to an early construction of the Bui hydroelectric power project. Subsequently, the Bui Development Committee (BDC) was formed by the Government as a state agency to select the appropriate potential Independent Power Producer or Developer to whom may be awarded the right to develop the Bui hydroelectric power project on a build operate and transfer (BOT) basis using private capital financing.
The BDC is made up of eleven eminent persons including professional engineers, university lecturers, economists, surveyors and lawyers. It is under the Chairmanship of Ing. Y.N. Opong, a consultant engineer.
In his Sessional Address to Parliament on 31st January, 2002, President J.A. Kufuor said the critical role of energy for social and economic development could not be over-emphasised and that "the sector faces major challenges: electricity supply capacity is nowhere near enough for the growing demand. The Akosombo Dam is overstressed by excessive demand, and the levels of the lake are falling dangerously."
The President informed Parliament that he had set up a committee to review the Bui Dam project and to expand the project proposals for multi-purpose uses.
When the Bui project takes off, it will be the third hydroelectric power project in Ghana after Akosombo and Kpong. The Bui hydropower project would make available to the nation some 400MW of electric power. Besides power, the agricultural potential of the Bui area would be developed.