Joao Lourenco elbows out Isabel Dos Santos from Caculo Cabaca dam

摘要

Step by step President Joao Lourencornhas pick the hegemony the daughterrnof his predecessor, Isabel Dos Santos,rnenjoyed in the energy sector (see opposite).rnThe former CEO of Sonangolrnfound herself the target of a presidentialrndecree on July 12 that stipulates thernexclusion of the joint venture CGGC &rnNiara Holding and Boreal Investmentsrnfrom the construction of thern2,172 MW Caculo Cabaca dam on thernKwanza River. These two entities untilrnnow respectively held 2.5% and 37.5%rnof the project. GCGC & Niara Holdingrnis a joint venture formed betweenrnCGGC-Engenharia de Angola andrnNiara Holding. The first is a subsidiaryrnof China Ghebouza Group Co (CGGC),rnwhich itself holds a majority share ofrn60% in the project, while the second isrna subsidiary of 2I’S – Sociedade dernInvestimentos Industriais, a firm registeredrnat Dos Santos’ residence. BorealrnInvestments is led by businesswoman’srnlawyer and power of attorney, FidelrnKiluanje Assis Araujo. Since July 12,rnthe state’s only partner on the $4.5 millionrnproject financed by the the Industrialrnand Commercial Bank of Chinarn(ICBC), is CGGC.