CABEI grants US$ 6.7 million to Nicaragua to strengthen its electric power system
The funds will contribute to meeting the increasing demand for electricity and improve the reliability of electricity supply in the metropolitan area.
Managua, October 19, 2016. - The Central American Bank for Economic Integration (CABEI) and the Nicaraguan government signed a US$6.7 million loan to finance the “Central Managua Substation Project” to attend the increasing demand for electrical power in Managua and reinforce the distribution system in the capital.
The project involves the design, construction, equipping, installation and startup of a substation in Managua with an estimated cost of US$7.9 million, of which US$6.7 million will be financed by CABEI.
The project will be executed on a 1.2 hectare property and includes the construction of a control tower and the acquisition of a high power transformer. It is expected to directly benefit 23,658 consumers, of which 19,192 are residential, which is estimated to involve 95,960 people.
Participating in the contract signing event were the Nicaraguan Minister of Economy and Public Credit, Iván Acosta, and the CABEI Director for Nicaragua, Silvio E. Conrado G.
