October 30, 2013
Russia’s Rosexinbank has agreed to loan $195m to Ecuador to help build the
Russia’s Rosexinbank has agreed to loan $195m to Ecuador to help build the Termogas Machala thermoelectric power plant in the El Oro province, Ecuador’s ministry for the coordination of strategic sectors announces. The facility will have an installed capacity of 187 megawatts and is expected to begin operation in 2016. The Russian bank may also lend to other Ecuadorian power projects, and signed memorandums of understanding for a pair of hydroelectric plants.