JOHANNESBURG. Thirty years after Mozambique gained independence from Portugal after a bloody liberation war – followed by a civil war sponsored by South Africa, the country finally will gain control over the Cahora Bassa hydroelectric dam. The dam, built by Sweden´s Asea (now ABB) in 1968, is the largest hydroelectric dam in Southern Africa.
But it comes as a cost. Portugal was, according to AFP, seeking $ 2,2 billion to hand over control of the asset to Mozambique, which presently only holds 18 percent.
For Mozambique it is not a day too late as the country has a serious shortage of electricity. It has not been able to access most of its own electricity from Cahora Bassa for all these years.
All the electricity has been exported directly to South Africa way below market price – Mozambique has only been able to re-import 10 percent from South Africa.
The agreement has been hammered out after many years of negotiations and was to be signed by the Mozambican President Armando Gebuza and the Portuguese Prime minister José Socrates.
There are plan´s to build a new hydroelectric dam further down the Zambezi river, a project worth $ 2 billion.
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