Prime Minister Meles Zenawi and Chinese Ambassador to Ethiopia, Xie Xiaoyan, inaugurated Fincha Amerti Neshe Hydropower Project on Saturday.
The Hydropower Plant is located in the Oromia Regional State of Horoguduru Wollega Zone and has an installed capacity of 97 Megawatt.
The total project cost totaled over $137.8 million, 85 per cent of which was covered Chinese loan, according to CEO of the Ethiopian Electric Power Corporation, Mihret Debebe.
The news indicated that the necessary compensation had been made to persons displaced because of the project through negotiations with the regional government, the local administration and the society.
The Fincha Amerti Neshe hydropower project, is a multi-purpose project, which has capacity to generate 97 MW electric power enabling to expand the Fincha sugar factory through developing 6000 hectares land. The expansion of Fincha sugar factory is said to be near completion.
The hydropower plant will help to increase by 40 per cent sugarcane development, which is covering 14,000 hectares land, according to Water and Energy Minister Alemayehu Tegenu.
Chinese Ambassador to Ethiopia, Xie Xiaoyan on the occasion said success of the project reflects the new achievement of financial cooperation between Ethiopia and China.
The Ambassador said the Ethiopian government managed to score a rapid and sustainable economic growth and also to improve the livelihoods of the people under the leadership of Prime Minister Meles.
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