Zimbabwe Power Firm Secures Funds From India, State Media Says
(Bloomberg) -- Zimbabwe's state-owned power utility has secured $310 million from an Indian lender for the refurbishment of the Hwange Power Station to extend its lifespan by 20 years, state-run Sunday News reported.
The works on the 38-year old plant, only designed to run for 30 years, will start next year, it cited Shepherd Mukundi, general manager for Zimbabwe Power Company, as saying. The plant suffers frequent breakdowns due to aging equipment and is currently being expanded to add 600 megawatts of power by next year.
“We have secured $310 million of the initial project cost of $450 million from India,” Mukundi told the newspaper. “The project will be done over a period of three to five years.”
The southern African country meets a shortfall in power generation through imports from Zambia, Mozambique and South Africa or resorts to load shedding.
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