(Ecofin Agency) - Omexom, a subsidiary of VINCI Energies specialized in the development and maintenance of electrical transmission infrastructures, signed a €197 million contract with the Senegalese national power company Senelec.

The agreement covers the installation of five very high-voltage power transformer stations, the construction of 200 km overhead and underground power lines and the installation of 100 substations for power distribution.

The project, which will run for 36 months, will be implemented in Dakar, Diass, Diamniadio, Thies, Kounoune, Tobene and Tambacounda. It is part of the 2016-2020 strategic energy plan that includes the strengthening and expansion of the national grid.

The project will be fully financed by a banking pool composed of French and Senegalese investors. The investment is secured by Senegal’s ministry of economy, finance and planning as well as the French bank, BPI Insurance Export.