Business / Companies
Chinese bank agrees to finance Hwange Thermal Power Station
09 Jun 2013 at 21:02hrs | Views
A CHINESE bank has agreed to finance the Hwange Thermal Power Station expansion. Permanent Secretary in the Ministry of Energy and Power Development Mr Partson Mbiriri revealed this at the
Confederation of Zimbabwe Industries Energy Efficiency and Renewable Energy conference held in Harare last week.
"The biggest bank in China said we have the money and we are prepared to participate in the equity of up to 40 percent.
"The financier indicated that if the papers are right and the project is well documented they are prepared to work with the contractor who wins the tender," said Mr Mbiriri.
Senior staff from Zesa Holdings' subsidiary Zimbabwe Power Company are currently in China undertaking the negotiations of the Hwange expansion project.
The Government needs US$1,3 billion to increase the capacity of the Hwange Thermal Power Station.
Under the Build, Operate and Transfer contract, Zimbabwe Power Company temporarily handed over Hwange to China Machinery Engineering Company.
Confederation of Zimbabwe Industries Energy Efficiency and Renewable Energy conference held in Harare last week.
"The biggest bank in China said we have the money and we are prepared to participate in the equity of up to 40 percent.
"The financier indicated that if the papers are right and the project is well documented they are prepared to work with the contractor who wins the tender," said Mr Mbiriri.
Senior staff from Zesa Holdings' subsidiary Zimbabwe Power Company are currently in China undertaking the negotiations of the Hwange expansion project.
The Government needs US$1,3 billion to increase the capacity of the Hwange Thermal Power Station.
Under the Build, Operate and Transfer contract, Zimbabwe Power Company temporarily handed over Hwange to China Machinery Engineering Company.
Source - Herald
