SWEDEN’S NCC HAS SIGNED a contract worth SEK1.9 B (US$0.18B) with the Dominican Republic for the construction of the Alto Yuna project. This will include construction of a dam, two power stations and tunnels. In addition to providing storage for power and irrigation, the dam will also provide flood control. The two power stations will have a combined capacity of 63MW.

Construction is expected to commence in about a year, pending completion of the environmental impact hearings. The project is to be financed by Exportfinans of Oslo, based on credit guarantees from the Swedish Export Credit Guarantee Board and the Norwegian Institute for Export Credit Guarantees.