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Old May 8th, 2010, 07:05 PM   #1
desert burner
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zambia to build 120 mw hydro plant

Zambia will start building a 120 megawatt (MW) power plant in July as the country upgrades its power generation capacity to meet rising demand and help boost supply in the region, a senior industry official said on Monday.

Project Director Robert Nsamba said construction of the $240 million power plant, which was initially planned to start in the first quarter of 2010, would now begin in July due to delays in securing the equity and debt to finance the project.
Zambia, Africa's largest copper producer, needs to boost power generation capacity to meet fast rising demand, growing on the back of investment in the mining and tourism industries.
"We have $120 million of the financing available and the contract for the project will be effective from July this year, we are hoping that by 2014 the power project should be completed and ready to generate electricity," Nsamba told Reuters.
The Itezhi-tezhi hydroelectric project, about 260 km south of Lusaka, is being developed by the Itezhi-tezhi Power Corporation (ITPC), a company jointly owned by Zambian state power utility Zesco Ltd. and TATA Africa of South Africa.
India's Export and Import Bank (Exim) Bank in January agreed to lend Zambia $50 million to help develop the project and the southern African country is in talks with the European Investment Bank and the African Development Bank for additional funding.
http://www.africagoodnews.com/energy...t-in-july.html
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