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Spain's ACS withdraws from Inga 3 hydro project in Congo

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01/21/2020 | 08:39am EST
Perez, chairman of Spanish builder ACS, stands before a news conference in Madrid

Spain's ACS is withdrawing from the $14 billion Inga 3 hydroelectric project in Democratic Republic of Congo, the company said on Tuesday, without providing any further explanation.

Actividades de Construccion y Servicios signed a preliminary agreement in 2018 to jointly develop the 11,000-megawatt Inga 3 dam, but the Spanish and Chinese developers had been unable to agree on how to proceed to construction.

(Reporting by Clara-Læïla Laudette; Writing by Juliette Jabkhiro; Editing by Aaron Ross, editing by Louise Heavens)

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