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Zambia, Zimbabwe aim for major joint power project

Xinhua, April 3, 2017 Adjust font size:

The governments of Zambia and Zimbabwe intends to come up with a roadmap on the development of a joint power project following the successful holding of a conference to solicit for funds, a senior Zambian government official said on Monday.

Minister of Finance Felix Mutati said the roadmap for the development of the Batoka Gorge Hydro Electric Project will be developed in consultation with stakeholders from the two countries, according to a statement released by his office.

The Zambian minister said the investor conference held last Friday was over-subscribed in terms of attendance and interest, adding that the two governments stressed the urgency of timely execution of the project in order to address the power demand of the two countries.

"The Batoka Investor Conference generated significant interest from both financiers and investors who expressed strong commitment to participate once the project procurement documents were finalized," he said.

The two governments committed to a transparent bidding process which would ensure a competitive process and value for money, he added.

The two countries want to develop the power plant at a cost of 4 billion U.S. dollars. The project involves the construction of a dam wall and two power stations on the Batoka Gorge to be producing 1,200 megawatts of electricity each.

According to figures, Zambia's power demand is projected to grow from 1,911 megawatts to 5,508 megawatts by 2035 while Zimbabwe's power needs may increase from 2,116 megawatts to 5,301 megawatts. Endit