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Economy & Business - November 2020

ECONOMIC HIGHLIGHTS

PARAGUAY | Advancing key infrastructure project. On 4 November, Paraguay’s state-owned electricity firm (Ande) announced that it had signed the contract for the construction of a new electricity substation in Alto Paraná department, that would allow Paraguay to make use of its full share of the electricity produced at the Itaipú binational hydroelectric dam shared with Brazil. Paraguay currently uses less than 30% of the 50% share of the electricity produced at Itaipú due to a lack of adequate infrastructure (and is forced to cede the rest of its share to Brazil at below market prizes). The construction of the new ‘Yguazú’ substation and that of a new 500Kv transmission line linking it to Itaipú would allow for more of the electricity produced at the dam to be transported to Paraguay. The two projects involve a US$65m contract for the construction of the substation (awarded to the Siemens-Rieder consortium following a tender process) and a US$34m contract to build the transmission line, awarded to a local firm, CIE SA. Construction of both projects is expected to be completed in 2022, with President Mario Abdo Benítez declaring that they will give Paraguay “energy sovereignty”.

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