German investors to relaunch Inga III in the DRC
Germany and the European Union could financially support the Inga III dam project, the completion of which has been blocked for years.
A delegation of German investors is visiting Kinshasa these days. On the program: railway and energy operations in the Democratic Republic of Congo. The Inga III dam project is at the center of interest since it could be the subject of European funding in order to ensure access to an energy source that respects the environment.
The delegation led by Gernot Wagner, German businessman and honorary consul of the Democratic Republic of Congo in Germany, met officials including Jean-Désiré Cashmir Kolongele, chief of staff of President Felix Tshisekedi.
German investors have plans for rail operations in eight corridors, but they mainly target the operation of the Inga III dam. A 20 billion euro cooperation project financed by the European Union which would thus ensure access to a source of green energy.
“This includes the railway project which is very important for the industrialization of the Congo and also a large energy project with Inga III and the production of hydrogen”, confirms Gernot Wagner, head of delegation. “We are also very interested in importing products. And also, passengers, how people can travel in the country comfortably,” he said.
Reconciling Congolese and foreign interests
The Inga III project was slow to take off until then, due to lack of financial feasibility. And yet, if properly designed, it could meet the environmental goals of the Paris Agreement. Several observers believe that the Democratic Republic of the Congo offers a lot of investment opportunities.
The Inga III dam (here Inga 1 pictured) has been called into question several times, some investors having notably left the project
The Inga III dam (here Inga 1 pictured) has been called into question several times, some investors having notably left the project
But it is up to the Congolese government to raise awareness and improve the business climate. “ There is talk of the Congolese government continuing to educate investors around the world, to work internally to improve the business climate,” says Erick Tshikuma, Zoom Eco analyst. He insists on respecting the interests of the Congolese as well as those of investors. ” It is important that the interests of the Democratic Republic of the Congo and those of its people are aligned along with the interests of those who bring in new capital or other investments.”
German investors have said they are ready with their projects, the first launches of which could take place as early as next week.
Source: dw.com
