Zambia's Finance Minister Felix Mutati, stated that government has earmarked $700 million for the development of a hydropower plant this year in the Northern Province by the private sector.
Mutati said the energy project, dubbed the Kalungwishi hydropower plant, is planned to connect the province to Tanzania once operational, reports Times of Zambia.
"Among the things we want to do here in Northern Province is in the power sector and there are two key projects that are going to happen. The first one is Kalungwishi hydropower plant with an investment of about $700 million by the private sector, creating immerse opportunities not only for jobs but also adding to the stability and security of the power generation," he said.
Kalungwishi hydropower plant links to Tanzania
Mutati said the project would be an interconnector from Kasama to Nakonde which will connect the Northern power system to Tanzania.
He highlighted that the project has the potential to create opportunities for more taxes if investments were placed in the area. Read more...
"The issue of debt can only be solved if you generate resources in an economy and I think we have that in Northern Province to take a lead in growing the economy. We want to bring in investors this year, both local and international to share opportunities," Mutati said.
According to the minister, investors have assured government that the project will commence in August this year.
He was speaking at the 2018 national budget sensitisation meeting and the launch of the Citizens National Budget in Mbala at the weekend.
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