The Ethiopian Electric Power project’s contract management office has reported that the construction of the Koysha hydropower dam is on track to be completed within the designated timeframe.

Mr. Eyoel Solomon, the team leader of the office, affirmed that the contract management and monitoring processes are being carried out effectively.

He emphasized that stringent monitoring activities are being conducted to maintain a rigorous work process between Ethiopian Electric Power and the contractor, We Build (formerly known as Salini).

He mentioned that the project’s contract management department is conducting monthly verification of the financial requests submitted by the contractor engaged in the dam construction for completed work.

Mr. Eyoel confirmed that payment for the construction costs of the project will be made in Birr and Euro, depending on the type and quantity of civil and electromechanical work.

He noted that a substantial portion of the project’s civil work is being carried out with the assistance of local resources, leading to payments being made in the local currency, the Birr.

Mr. Eyoel explained that payment for electromechanical works, from design to production and installation, is made in Euros, necessitating payment in foreign currency.

The team leader mentioned that valuable lessons and insights from previous projects, such as the Gibe-III Power Plant and the Great Ethiopian Renaissance Dam, are being applied to address any potential challenges in managing the contracts for the Koysha Hydropower Project.

Mr. Eyoel confirmed that the government is exerting greater effort than ever to ensure that the project is not delayed due to a shortage of funding.