$7 billion, 4320 MW Inga III project. Snubbing Westcor, the DRC chose BHP, which intended to use 2,000 MW for itself, notably for an aluminum smelter. In 2017 proposals were for a 10–12 GW dam, up from 4.8 GW in earlier plans, with potential completion sometime after 2024. In October 2018, the government of the DRC announced the signing of contracts with a Sino-Spanish consortium to launch design studies for the construction of the Inga III dam with 11,000 MW and a total cost of $14 billion. Main companies of the consortium were China Three Gorges Corporation, Sinohydro and ACS Group. While construction plans for phase III were reported in be on track in late 2019, a major potential member of a construction consortium, Spanish firm ACS Group, dropped out in January 2020, leaving uncertainty with remaining Chinese and German partners. Grand Inga The Grand Inga Dam, if harnessing much of the power of the river, could generate up to 39,000 MWand would significantly boost the energy available to the African continent at a cost of more than $80 billion. Connecting Inga to a continent-wide electricity grid for main population centers would cost $10 billion more (est. 2000), and would be the world's largest hydroelectric project. Critics contend the huge amounts of money required for the project would be better spent with smaller scale, localized energy projects that would better meet the needs of Africa's poor majority. A study from Oxford University supports this cautious approach by showing that the average cost overrun for 245 large dams in 65 countries across six continents is 96% in real terms. The New Partnership for Africa's Development, with significant involvement of South African electric power company ESKOM, suggested in 2003 to start the Grand Inga project in 2010. At an installed capacity of 39,000 MW, the Grand Inga Dam alone could produce 250 TWh annually, or a total of 370 TWh annually for the whole site. In 2005, Africa's annual electricity production was 550 TWh (600 kWh per capita). The project is expected to top US$100 billion in total development costs. In May 2016 construction looked as if it would begin within several months. However, in July 2016 the World Bank withdrew its funding following disagreements over the project despite power purchase agreements from South Africa and mining companies. The first phase grant would have totaled US$73.1 million. Some observers are skeptical of