$87 million secured to revamp Bulawayo Thermal Power Station

The India Export and Import Bank has extended an $87 million loan for the re-powering of the Bulawayo thermal power station.
 
The loan has a tenure of 13 years, a grace period of three years and a repayment period of 10 years at two percent interest rate per annum.
 
In a statement, Finance Minister Patrick Chinamasa, who signed on behalf of Zimbabwe, said the revamping of Bulawayo power station would help mitigate the country's power woes and in turn improve industrial productivity.
 
He said the project was expected to take three years to complete.