By admin
An Engineering Procurement and Construction (EPC) contract was signed in Honiara today concerning the Tina River Hydro Power project.
A statement from Tina Hydropower Limited (THL) confirmed, the signing was held between and THL and the Hyundai Engineering Company Limited.
It says, EPC generally stands for the turn-key contract engineered, procured and constructed by the construction company.
THL said key commercial agreements including the On-lending agreement on 27 September in Sydney were signed between the Tina Hydropower Limited, Ministry of Finance and Treasury, as well as agreements related to the funding support from the Asian Development Bank (ADB), the Abu Dhabi Fund of Development (ADFD), the Australian Government (DFAT), Green Climate Fund (GCF) and the Korea-EX-IM Economic Development Cooperation Fund (EDCF), all of whom, alongside World Bank Group.
The Tina River Hydro Project is a high priority project for the Solomon Islands Government, representing the first national nation-building infrastructure project developed through a Public-Private-Partnership (PPP) approach.
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