Sinohydro bags Ecuador deal

Sinohydro Corporation has sealed a deal to build a $2-billion hydropower station in Ecuador, the latest overseas mega contract for the China's largest hydropower plant builder.

The contract is likely to be signed in Ecuador's capital city Quito on Sept 23, said an official with Sinohydro who declined to be named. He added that Ecuador's President Rafael Correa might attend the signing ceremony and hence the event could be changed in accordance with his agenda.

The signing of the deal had been postponed several times due to discussions on the contract price. The finalized contract price of the turnkey project is around $2 billion, including design, construction and equipment.