Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  AES Corp    AES

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

The AES Corporation : World Bank Official : Cameroon Power Plant To Be Finished In 2014 -Official

share with twitter share with LinkedIn share with facebook
share via e-mail
0
03/31/2012 | 10:37am CET

The World Bank's Cameroon country director Gregor Binkert assured the African nation's president, Paul Biya, that construction of the giant Lom Pangar hydroelectricity dam needed to boost the country's economy will be completed in 2014, state-radio reported Saturday.

"Preparatory work has already started. The constructor of the dam--a Chinese company--has already been selected. We expect to disburse funds for the dam's construction by June or July this year. The European Investment Bank will also disburse funds by June. So, we think that the work can now go on. With all these preparations done, all this work done, we stay optimistic and we're confident that by 2014, work on the dam will be finished," Binkert told reporters after holding talks with Biya at the country's presidential palace Friday.

The assurance comes after the World Bank approved a $132 million zero-interest loan Tuesday to help Cameroon build the dam.

A total of XAF193.6 billion ($393.7 million) is needed to construct the hydroelectricity plant, whose dam will hold 7.25 cubic kilometers of water and generate 1,192 megawatts of hydroelectricity supply for industrial and domestic use.

While Cameroon's government has already made available XAF46.8 billion as its part of funding, the rest of it will come from local and foreign lenders such as: the World Bank; the European Investment Bank; the French Agency for Development, or AFD; the African Development Bank, or AfDB; and the Development Bank for Central African States, or BDEAC.

To be built on the twin Rivers Lom and Pangar in Cameroon's East Region, the plant is being managed by state-run Electricity Development Corporation. The EDC recruited China International Water and Electric Corporation, CWE Corp. in August 2011 to build the plant's dam.

Construction work on the site began in November 2011. The Lom Pangar project is part of Cameroon's battle to fight acute power shortages and increase electricity output and launch giant industrial projects, including for the rural population, 14% or which is still without electricity.

Cameroon aims to spend $12 billion to triple its electricity output by 2020, according to a government strategy paper.

American energy giant AES Corp. (AES), which currently accounts for Cameroon's 1,000MW is the lone provider of the West African nation's electricity.

-By Emmanuel Tumanjong, contributing to Dow Jones Newswires; +237-9655-6261; tnuel@yahoo.com

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on AES CORP
12/01 AES : ENGIE and AES Andres Leverage Core Strengths to Provide Reliable and Compe..
11/24 AES : appoints Tom Saldamarco as Regional Sales Manager for Northeast US and Can..
11/10 AES : Dayton Power and Light’s Gift of Power Helping Local Families Stay W..
11/09 THE AES CORPORATION : (AES) Falls 3.38% for November 09
11/08 AES : Looking for Drones and Robotics Solutions to Improve the Safety and Availa..
11/07 AES : Looking for Drones and Robotics Solutions to Improve the Safety and Availa..
11/04 THE AES CORPORATION : (AES) is Trading Higher on Unusual Volume for November 04
11/04 AES : misses 3Q profit forecasts
11/04 AES : MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF..
11/04 AES CORP : Results of Operations and Financial Condition, Regulation FD Disclosu..
More news
Sector news : Electric Utilities - NEC
12/02DJOrigin Energy's New CEO Makes Changes to Leadership Team
11/25DJDOMINION RESOURCES : Saudi Arabia to Skip Meeting With Non-OPEC Producers
11/24 FROM BOOKS TO BANKS : Investors place bets against Italy meltdown
11/23 DRAX : Britain maintains carbon tax freeze until April 2021
11/21DJTsunami Alerts Lifted After Japan Earthquake
More sector news : Electric Utilities - NEC
News from SeekingAlpha
11/22 Post-Election Losers
11/21 DIVIDEND CHALLENGERS (AND NEAR-CHALL : 38 Increases Expected In The Next 10 Week..
11/11 4 Mistakes Even Intelligent Investors Make - Part 1
11/10 VALUATION DASHBOARD : Utilities - Update
11/09 AES CORPORATION : Turnaround Continues
Advertisement
Financials ($)
Sales 2016 14 527 M
EBIT 2016 2 324 M
Net income 2016 663 M
Debt 2016 20 132 M
Yield 2016 3,95%
P/E ratio 2016 19,36
P/E ratio 2017 10,77
EV / Sales 2016 1,89x
EV / Sales 2017 1,90x
Capitalization 7 370 M
More Financials
Chart AES CORP
Duration : Period :
AES Corp Technical Analysis Chart | AES | US00130H1059 | 4-Traders
Full-screen chart
Technical analysis trends AES CORP
Short TermMid-TermLong Term
TrendsBearishBearishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 12
Average target price 12,5 $
Spread / Average Target 12%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Andrés Ricardo Gluski Weilert President, Chief Executive Officer & Director
Charles O. Rossotti Chairman
Bernerd Raymond da Santos Ávila Chief Operating Officer & Senior Vice President
Thomas M. O'Flynn Chief Financial Officer & Executive Vice President
Elizabeth Hackenson Chief Information Officer & SVP-Technology
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
AES CORP19.64%7 370
DUKE ENERGY CORP3.33%50 582
DOMINION RESOURCES, IN..8.35%46 242
SOUTHERN CO-0.06%45 825
IBERDROLA SA-14.52%37 975
EXELON CORPORATION18.87%30 477
More Results