Zambia, Zimbabwe to Start $4 Billion Power-Project Build in 2019
(Bloomberg) -- Zambia and Zimbabwe plan to start construction of a $4 billion power-plant complex that will supply both nations next year.
The African Development Bank is advising the Zambezi River Authority on raising funds for the Batoka Gorge power plant and it's likely that it will reach financial close by the end of the year as planned, ZRA Chief Executive Officer Munyaradzi Munodawafa said in an interview Wednesday in Kariba, about 400 kilometers (249 miles) northwest of Zimbabwe's capital, Harare.
The 2,400-megawatt project will be located downstream from Victoria Falls on the Zambezi River that straddles the two countries. Batoka will help meet rising demand for electricity in Zambia and Zimbabwe, which is expected to more than double by 2035, according to EY, an adviser on the project. The countries will operate separate power plants.
“The interest from financiers is huge,” Munodawafa said. “This is going to be one of the fastest-implemented projects in the region.”
To contact the reporter on this story: Godfrey Marawanyika in Harare at gmarawanyika@bloomberg.net.
To contact the editors responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net, Ana Monteiro, John Viljoen
©2018 Bloomberg L.P.
-
The Economic Imperative: Analysing The Material Driving Force Behind India-Canada Strategic Reset
This economic complementarity is further reinforced by deep institutional investment ties and talent mobility, which form the bedrock of the bilateral framework.
-
Medicine Pricing: Where Must Profit Stop?
India must confront excessive margins, hidden incentives and regulatory gaps that threaten the integrity of medicine.
-
Why Amazon And Flipkart Are Struggling To Beat Meesho In India's Smaller Cities
With 274 million users and lowest-cost logistics, Meesho is defending its value commerce crown against giants like Amazon and Flipkart.
-
High US Salaries, No Green Card Certainty: The Financial Calculation Facing Indian H-1B Families
The suspension of PERM processing at eight technology employers does not cancel existing H-1B visas. What it does is force a question many Indian families have been avoiding: is the US salary worth tying your career and family plans to one employer?
-
Swiggy vs Eternal: Food Delivery's Two Rivals Are No Longer In The Same Race
Eternal is building a private AI assistant, dark.ai. Swiggy is still working out how to make Instamart pay, with an operating loss of Rs 895 crore in the July-September quarter while Blinkit stayed profitable.
-
Where You Live Shapes How You Get To Work | The Reason Why
Two-wheelers are the most popular way to get to work in India, accounting for nearly 43% of workplace commutes.
-
Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
-
Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
-
India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
-
France's Economy & Politics Are In Crisis | The Reason Why
Let's look at how the French economy and politics evolved under Nicolas Sarkozy, Franois Hollande and Emmanuel Macron.
