Government, Chinese to finalize US$40mn loan next month
Bnamericas Published: Friday, September 25, 2009
Guyana and China in October are due to finalize talks for a US$40mn loan to help state utility Guyana Power & Light (GPL) carry out works, the South American country's government information agency GINA reported. Last October, Guyana's President Bharrat Jagdeo and Li Ruogu, governor of China's Import-Export Bank, signed a MOU to modernize GPL. A Chinese team is scheduled to arrive in Guyana by October 12 and following the negotiations will outline the design works, the utility's CEO Bharrat Dindyal was quoted as saying. Financing would help expand T&D systems in Demerara and Berbice, specifically 110km of overhead transmission lines, 1.8km of submarine cable, seven new substations and a Scada system for telemetering. GPL is the country's principal power supplier, operating systems that total 113MW installed capacity, all thermoelectric. These systems supply roughly 126,000 residential, commercial and industrial customers.
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