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Venezuelan electricity company Edelca's US$2.3bn, 2,160MW Caruachi hydroelectric project will begin operations in 1Q03, with the startup of the first unit of the powerhouse, said Francisco Rangel Gomez, the president of state-owned heavy industry holding Corporacion Venezolana de Guayana (CVG), which controls Edelca.
Work on Caruachi, on the Caroni River, is 70% completed. A year ago the work was 10 months behind schedule and now it is three months ahead, Rangel said in a CVG statement.
On February 1 President Hugo Chavez will inaugurate work on Edelca's 2,160MW Tocoma hydroelectric project in Ciudad Guayana, CVG said. Investment is estimated at US$2bn and the project is scheduled to be operating in 2010.