Ver Angola


PR approves funding of around 486 million dollars for water project in Luanda

The President approved funding for a total amount of around 450 million euros (486,360,000.00 dollars) for studies, design and construction of a water distribution center in Luanda, through international credit lines.

: Lusa

At stake are the study, executive project and construction of the water distribution center for system V, Lots Q2, Q6 and Q7 of the Quilonga Grande project, in the province of Luanda.

The Quilonga project, divided into several lots, has an estimated value of 1.3 billion dollars (1.2 billion euros) and will cover five million inhabitants, ensuring the supply of water to the northern part of Luanda, including Cacuaco, Viana, Icolo and Bengo and neighborhoods such as Mulenvos de Baixo, 30, Cepa do Bengo, the Zango area, Novo Aeroporto, Cidade Universitária and the Special Economic Zone.

At issue are agreements to finance the commercial contract, insurance premiums, risk mitigation fee and downpayment.

One of the agreements, worth 420 million euros, will be signed with Standard Chartered Bank and other financial institutions to finance 95 percent of the commercial contract and 100 percent of the insurance premium of the German Euler Hemes Exoration Credit Agency; the other financing, also borne by SCB and other institutions, in the amount of 29 million euros, will cover the 'downpayment' and 100 percent of the risk mitigation fee.

Finance Minister Vera Daves will be responsible for signing the financing agreements and related documentation.


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