On 24 May, Italy’s Salini Impregilo announced that it had signed a €2.5bn contract with Ethiopian Electric Power (EEP) to build the 2,200MW Koysha dam on the Omo River. The project comprises a 170-metre-high roller-compacted concrete dam with a reservoir volume of 6bcm. It is expected to produce 6,460GWh/yr electricity. The project is expected to be financed by Italian banks and underwritten by Italy’s Servizi Assicurativi del Commercio Estero (Sace). Ethiopian newspaper The Reporter noted in April that Sace had agreed €1.5bn of export credit financing.