Ghana and Sino Hydro, a Chinese construction company, have signed a memorandum of understanding to undertake the construction of the Bui Dam. The government is currently funding the Environmental Impact Assessment (EIA) at a cost of $2 million to prepare the ground for the take-off of the project after ongoing negotiations on funding have been completed. The $500 million project, which has been on the drawing board for decades, is expected to augment the power supply production from the Akosombo dam and Aboadze Thermal Plant.