WUHAN -- China Three Gorges Corporation (CTGC) has signed a contract with Guinea to build a new hydropower station for the western African nation, the company announced on Monday.

The Souapiti hydropower plant on the Konkoure River will have an installed capacity of 450,000 kilowatts. The plant will not only meet the power demands of Guinea but extra electricity will be transmitted to neighboring countries.

The contract is worth $1.38 billion and construction is expected to take 58 months.

The Kaleta hydroelectric power station, CTGC's first project in Guinea, saw its first generating unit going into operation last year. It will have a total capacity of 240,000 kw.

Established in 1993, CTGC is a clean energy group focusing on large-scale hydropower development and operation. It manages the Three Gorges -- a multi-functional water control system consisting of a huge dam, a five-tier ship lift and 26 hydropower generators in the middle reaches of the Yangtze River.