India's $450 Million Credit for Ugandan Hydropower Project is Part of Broader Bonding Process

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Written by Richard Finlayson, Senior International Editor for Industrial Info Resources (Sugar Land, Texas)--Although China and India are perceived by many to be leading in resource and development investment in Africa, the greatest investment in the continent by far has come from Europe, the U.S and Brazil. But all regions of Africa recognize that China and India are very active in acquiring new African assets and patronage through joint venture projects.

The Indian government has granted a credit facility of $450 million to fund the 180-megawatt (MW) Isimba hydropower project in Uganda. This will be the fourth-largest hydropower project in the country and is located on the Victoria Nile River in the Kamuli district.

This Indian-Ugandan project cooperation is part of a larger mutual strategy. At a meeting led by Indian External Affairs Minister Salman Khurshid and Ugandan officials, the minister noted that Uganda is emerging as a leading oil and gas producer. The Ugandan foreign affairs minister chimed in that India would aid the country in developing its energy sector alongside other sectors, such as defense, security, agriculture and food processing.

The International Hydropower Association's (London, England) 2013 report says that with the completion of the 250-MW Bugali hydropower project, the country's electrical power output exceeds demand for the first time, and industrial operations will no longer be faced with the daily outages that have compromised the country's progress.

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