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European Investment Bank’s Operation To Begin In Our Energy Sector

A Cooperation Agreement is expected to be signed tomorrow between the Fijians Government, the Fiji Electricity Authority and the European Investment Bank. The agreement signing would be part of the
30 Jun 2015 11:00
European Investment Bank’s Operation To Begin In Our Energy Sector
Deal would be part of the European Investment Bank Vice President, Pim van Ballekom’s official visit to Fiji and New Caledonia.

A Cooperation Agreement is expected to be signed tomorrow between the Fijians Government, the Fiji Electricity Authority and the European Investment Bank.

The agreement signing would be part of the European Investment Bank Vice President, Pim van Ballekom’s official visit to Fiji and New Caledonia.

The Vice President is understood to have arrived in the country later yesterday evening.

Earlier this year, FEA chief executive, Hasmukh Patel, had confirmed the authority was in talks with the EIB with regards to the lower Ba Hydro Development Project.

This was to provide a grant to engage a contractor to carry out preliminary investigation and geotechnical drilling to firm up the feasibility

The lower Ba Hydro Development Project is a combination of three schemes on the Ba River after the Nadarivatu Hydro Scheme.

The estimated cost of this is US$324 million (FJ$664 million) which includes three hydro stations and transmission connection.

The European Investment Bank is the world’s largest international public bank and owned directly by the 28 European Union member states.

During the Fiji visit, the first new EIB operation in the country for many years will be announced.
The high-level EIB delegation will also meet key Ministers, Ambassadors and the local business community.

Feedback: rachnal@fijisun.com.fj



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