(Yicai Global) Jan. 9 -- Huazi Science & Technology has undertaken an expansion project worth USD14.7 Million for the Central African Republic's Boali No. 2 Hydropower Station, which forms part of the grid interconnection between the CAR and the neighboring Democratic Republic of the Congo.

Huazi recently signed an agreement for the project with the general contractor Beijing-based China Gezhouba Group, the Changsha-headquartered hydropower-control equipment maker announced yesterday.

Huazi will build the station's expanded plants and auxiliary projects and install two five megawatt hydroelectric generating units for the facility, which lies along the scenic Mbali River -- famous for its waterfalls -- in the west of the country about 150 kilometers north of the capital Bangui. Denominated in US dollars, the contract will be settled in Chinese yuan, with the exchange rate the People's Bank of China's buying rate on the day when Gezhouba Group receives payment from the project owner, per the announcement.

Construction is projected to last 18 months. The contract will take effect after Gezhouba Group inks a separate general contracting agreement with CAR's Ministry of Mines, Energy and Water Resources and Huazi receives advance payment, the announcement added.

Boali No. 1 is the CAR's main hydro project. Shanghai-based East China Investigation and Design Institute completed its expansion in March 2017, adding greatly to the country's electricity supply, public information shows.

Editor: Ben Armour