Business / Companies
$1.5 billion power plant for Zimbabwe
17 Jul 2014 at 07:13hrs | Views
Makomo Resources (Pvt) Ltd, Zimbabwe's largest coal producer by output, said it plans to spend $1,5 billion on a 600-megawatt power plant and will also start exporting coal to steelmakers in southern Africa.
Makomo Resources will be partnered by with Southern Energy, a Mauritius based company.
Construction of the plant will start in 2018, Finance Director Tendai Mungoni said at the company's mines in Hwange. Makomo will finance the plant together with Chinese investors he declined to identify.
"We are expecting to begin the civil works in the first quarter next year," the official said in an interview yesterday.
"We are anticipating that the project will take two years from the day of commencement. Ideally, we should be able to commission the two x 330 MW units in early 2017 if all things go according to plan."
The official could not reveal how much the project would cost saying the company was still going through a procurement process to "come up with an actual budget.
Once completed, the project, to be located in Hwange coal fields, is set to become the largest investment into the power sector in 26 years and one of the largest in the country. The story below has another version.
Makomo Resources will be partnered by with Southern Energy, a Mauritius based company.
Construction of the plant will start in 2018, Finance Director Tendai Mungoni said at the company's mines in Hwange. Makomo will finance the plant together with Chinese investors he declined to identify.
"We are expecting to begin the civil works in the first quarter next year," the official said in an interview yesterday.
"We are anticipating that the project will take two years from the day of commencement. Ideally, we should be able to commission the two x 330 MW units in early 2017 if all things go according to plan."
The official could not reveal how much the project would cost saying the company was still going through a procurement process to "come up with an actual budget.
Once completed, the project, to be located in Hwange coal fields, is set to become the largest investment into the power sector in 26 years and one of the largest in the country. The story below has another version.
Source - Byo24News
