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A consortium led by the Industrial Promotion Services (IPS) has won the bid to construct and operate the Bujagali Hydro Power Dam on the River Nile in Uganda. The consortium was the highest scoring bidder to submit a bid that could be funded by the private sector, as required by the request for proposals. IPS is the industrial development affiliate of the Aga Khan Fund for Economic Development (AKFED) which promotes private sector initiatives and entrepreneurship through equity investment particularly in Africa and Asia.