Chinese contractor Sinohydro has won the contract to build the 1.5 GW Coca-Codo-Sinclair hydroelectric power (HEP) scheme in Ecuador. The scheme will be 85% financed by China's Export-Import Bank, with the remaining 15% coming from Ecuador's government.
When complete, the facility 75 km from the capital, Quito will be able to supply up to 75% of Ecuador's power needs. It will be the biggest HEP project in Ecuador.
The budget for the scheme is US$ 2 billion, and construction is due for completion in 2015. Among the structures required for the scheme will be a dam on the Coca River and some 24 km of tunnels.
The scheme is expected to employ 4000 people, although it is not clear how many of these will be local and how many Chinese.