EDF Suspends Power Plant Project in Cameroon Amid Strikes
19 Marzo 2021 - 12:40PM
Dow Jones News
By Emmanuel Tumanjong
Special to Dow Jones Newswires
YAOUNDE, Cameroon--The construction of a power plant in Cameroon
by Electricite de France SA, or EDF, has been suspended for the
third time in two months due to industrial action.
Repeated strike action, in which employees have demanded higher
wages and working conditions, mean contruction of the 1.2
billion-euro ($1.43 billion), 420-megawatt hydropower plant may not
meet its previously-confirmed completion date of 2023.
The project is 40% owned by Nachtigal Hydro Power Company, a
subsidiary of EDF, while the International Finance Corporation and
the Republic of Cameroon each maintain a 30% interest.
Upon completion, the plant is expected to satisfy 30% of
Cameroon's electricity demand.
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(END) Dow Jones Newswires
March 19, 2021 07:25 ET (11:25 GMT)
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