February 15, 2009
Ecuador says China to finance power plant
Ecuadoran President Rafael Correa says
it's almost assured China will finance at $2 billion hydroelectric power plant.
Correa, who met with Chinese Vice Premier Hui Liangyu Friday in Quito, called it
extraordinary news, the Latin American Herald Tribune reported Sunday. The Coca-Codo-Sinclaire plant is planned for Ecuador's Amazon region.
Correa said during his weekly radio and TV address that China wants
to invest a lot in the country, though details remain to be ironed out.
They're ready to give us $1.7 billion in financing for Coca-Codo-Sinclaire, he said.
This is extraordinary news, it's almost assured.
He said China also is ready to take part in construction of an oil refinery, and roadways.