The Libyan-Russian JV plans to act as turnkey contractor for a series of projects in the continent, including a 300MW scheme on the Blue Nile river in Uganda.

Another key project cited is construction of 1200km of power transmission lines in Libya. Other countries where the JV will look to undertake energy projects are Algeria, Egypt, Yemen and Namibia.

Funding for the projects is to come from the Libyan African Portfolio Fund, which has approximately US$6.7B to invest, said Technopromexport.

The JV has been established following a Memorandum of Understanding (MoU) signed earlier in the year.