Eskom to spend US$45 billion in seven years

Pretoria, South Africa — ESI-AFRICA.COM — 20 April 2011 – South African national power utility Eskom will be spending close to US$45 billion in the seven years between now and 2018, according to the newly appointed director-general of the National Treasury.

Lungusa Fuzile “’ who assumes duty in her new position on May 16 “’ said the utility had gone a long way towards sourcing the bulk of this money.

Fuzile, who is currently head of assets and liabilities at the Treasury, replaces Lesetja Kganyago who will join the central bank next month as deputy governor.

Eskom supplies the majority of electricity to Africa’s biggest economy, but has been struggling to meet fast-rising demand. It has said that supply will remain tight until 2015, when two new power plants come on stream.