Health crisis delays Azito Phase IV expansion
Owned by British fund Globeleq, the Azito gas power plant, located near Abidjan, recently finalised its entire financing package for Phase 4 of the project, but will encounter delays and cost overruns (yet to be determined) due to the global health crisis.
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▪ Health crisis delays Azito Phase IV expansion
▪ Owned by British fund Globeleq, the Azito gas power plant, located near Abidjan, recently finalised its entire financing package for Phase 4 of the project, but will encounter delays and cost overruns (yet to be determined) due to the global health crisis.
▪ https://www.africabusinessplus.com/en/804355/azito-iv-retardee-par-la-crise-sanitaire/
In Côte d’Ivoire, the expansion phase of the giant Azito gas power plant, a €330m project, was officially launched on 13 March, but the coronavirus-related global health crisis “will definitely cause construction delays due to supply chain issues and travel restrictions,” Globeleq, Azito’s leading shareholder, told Jeune Afrique Business+. The project’s delivery was initially set for this year, but this deadline will not be met. “The new timeline is currently being reviewed and is likely to give rise to additional costs,” our source added.
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