Andean Group - May 2008 (ISSN 1741-4466)

In the first quarter exports were up by 55% at US$4.4bn. Imports for the first two months were up by only 24% at US$2.43bn. President Correa has inaugurated work on the new Coca-Codo-Sinclair hydro-electric dam as part of his efforts to meet the country's rising demand for power: electricity demand is growing at a rate of 7% a year. This is Ecuador's biggest hydro-electric project and will have the capacity to produce 1,500MW of electricity. Coca-Codo-Sinclair will be built by ENARSA, a state-owned Argentine company, and Termopichincha, from Ecuador. The dam will cost US$2bn and take five years to build.

End of preview - This article contains approximately 147 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

• Subscribe
• Sign up for a one-time, 14-day trial