Business / Companies
RioZim power plant will be ready by 2014
03 Mar 2011 at 10:00hrs | Views
Just less than 24 hours after Robert Mugabe threatened to take over foreign owned companies, Zimbabwe mining group RioZim advised that it expects to produce first electricity from the planned 2,400 megawatt Sengwa coal power plant by 2014, a senior official said on Thursday.
The company also expects to seal a strategic partnership deal for the $3 billion plant in May.
"We should have the first 600 megawatt unit on site by 2014 with the last unit completed by 2020. Zimbabwe is desperate for power," Managing Director Josphat Sachikonye told reporters on the sidelines of the NG Mining conference.
Zimbabwe, which relies heavily on its mining industry to prop up an economy struggling to overcome years of decline, is also battling a chronic power shortage which has curbed output
Source - Byo24News
