Nobis and FCME invest in new hydroelectric

Last Friday, the Unemployment Fund  of the Ecuadorian Magisterium (FCME for its Spanish acronym) and consortium Nobis, signed an agreement to invest together in a Hydroelectric project called Quimis.

This project, which will be located in the province of Zamora Chinchipe, would be the second in which teachers will participate as investors.

It will be a 47MW project with an investment of approximately $ 90 million. It has an interesting performance , construction time is approximately 24 months and hopefully by July next year we will have completed the feasibility studies , “said Ivan Rodriguez , Director of Nobis.

Meanwhile, Isabel Noboa, President of the Consortium, was satisfied with the agreement and participation of teachers in the project “Sabanilla”, also located in Zamora , which would be ready by November 2015.

The construction of the plant, in Zamora , which starts today, has a budget of $ 62.2 million.

Juan José Castelló , CEO of  the Unemployment Fund  of the Ecuadorian Magisterium  (FCME) emphazised that from the ” 100 % of the resources of teachers there is not a single cent of the State”.