INTER RAO UES to present proposals on HPS in Ecuador

MOSCOW, April 13 (Itar-Tass) - The INTER RAO UES Company will
participate in the construction of hydropower stations (HPS) in Ecuador.
The Company has signed a relevant agreement of intent with the Ministry
for Coordination of Strategic Sectors of the Republic of Ecuador, the
state holding company press service announced.
The Company refers, in particular, to HPS Tortugo, Tigre and
Llurimaguas on the river Guallabamba, with an aggregate generating
capacity of 480 megawatts.
According to the agreement signed, the Company's official pointed out,
"The INTER RAO UES before the end of 2011 undertakes to present a
technico-commercial proposal on the construction of three HPS and provide
proposals on a financial restructuring of the project".
The Ecuadorean state-run company Hydrotoapi and a group of banks
headed by Roseximbank on Tuesday also concluded a credit agreement valued
at an aggregate of $123.3 million for a term of 11 years.
These resources will be used to finance the treaty on the delivery of
electromechanical equipment for the 252-megawatt HPS complex
Toachi-Pilatov. The treaty had been signed by the INTER RAO UES and
Hydrotoapi in October 2010.
The press service official pointed out that all these projects "are
reckoned strategic priorities for the Republic of Ecuador and highly
important in the process of trade-and-economic cooperation between the two
counnries".