Market Screener | YAOUNDE, Cameroon–The construction of a power plant in Cameroon by Electricite de France SA, or EDF, has been suspended for the third time in two months due to industrial action.
Repeated strike action, in which employees have demanded higher wages and working conditions, mean contruction of the 1.2 billion-euro ($1.43 billion), 420-megawatt hydropower plant may not meet its previously-confirmed completion date of 2023.
The project is 40% owned by Nachtigal Hydro Power Company, a subsidiary of EDF, while the International Finance Corporation and the Republic of Cameroon each maintain a 30% interest.
Upon completion, the plant is expected to satisfy 30% of Cameroon’s electricity demand.
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