News / National
Zesa repays Zambia debt
21 Feb 2013 at 05:29hrs | Views
ZESA said it had started paying a $70 million debt to Zambia, a necessary step before the two nations can embark on a joint 1 600 megawatt hydroelectric plant, which could help relieve a power shortage.
The two southern African countries have started preliminary work on the Batoka power project, estimated to cost $2.5 billion and expected to be built and operated by a private company for a period before transferring ownership to the two states.
Zesa chief executive Elijah Chifamba told a parliamentary committee hearing the utility had started making payments to Zambia to clear the debt incurred when Zimbabwe sold off assets of a disbanded power firm jointly owned by the two countries to run by hydro-electric plants at the Kariba dam.
Chifamba said Zimbabwe will have paid $40 million to the Zambians by the end of March.
The two southern African countries have started preliminary work on the Batoka power project, estimated to cost $2.5 billion and expected to be built and operated by a private company for a period before transferring ownership to the two states.
Zesa chief executive Elijah Chifamba told a parliamentary committee hearing the utility had started making payments to Zambia to clear the debt incurred when Zimbabwe sold off assets of a disbanded power firm jointly owned by the two countries to run by hydro-electric plants at the Kariba dam.
Chifamba said Zimbabwe will have paid $40 million to the Zambians by the end of March.
Source - DN
