(Business in Cameroon) - On July 9, 2014 in Yaoundé, the Cameroonian capital, Electricité de France (EDF), the French electricity giant, officially opened its offices. The inauguration took place only 24 hours before signing with the Cameroonian government, an agreement for ceding all its rights to the development of the Natchigal hydroelectric plant construction project to EDF (to the detriment of Aluminium du Cameroun - Alucam who divested it).
According to the agreement protocol signed on July 10, EDF should not only carry out the construction of this energy infrastructure for the expansion of Alucam’s factory as the company hopes to triple its production and also produce and transport energy produced by the Natchigal plant.
With a 400 MW production capacity, the plant, which will officially be operational starting in 2019, will cost approximately 400 billion FCfa. Among the lenders, Société financière internationale (SFI) is already on its marks.