HomeRegional NewsInternationalUS$400 million for Kariba North Bank

US$400 million for Kariba North Bank

Felix Mutati,
Commerce & Trade
30 September 2008 – China’s Sino Hydro will spend US$400 million on expanding the Kariba North Bank power station, says commerce and trade minister, Felix Mutati in the Times of Zambia.

"The Chinese company will invest $400-million in the project and 85% of the investment will come from China Exim Bank," he reportedly told the newspaper.

The report says further that expansion works will start in October 2008, but no date is given for completion of the work.

In a related report, Sino Hydro chairman, Huang Boadong told reporters of the ZNBC radio station that the expansion, with an installed capacity of 360MW, would comprise two generators and is scheduled to take four years to complete.

Zesco is believed to be providing the remaining 15% of the budget and the expansion plans will take Kariba North Bank up to some 900MW in generation capacity.