Business
Zambia to import power from Botswana
Mr Mubemba said there is need to invest in electricity to sustain Zambia’s economic growth, adding that power is the key to industrial development of an economy. He then went on to say, “The biggest challenge we face is dealing with the peak period when the company faces a deficit of 200 to 300MW per day.”
He said the US$320 million power rehabilitation project (PRP) embarked by the company has helped with rehabilitation of generation, transmission and distribution infrastructure to stimulate the growth of the country. He cited the upgrading of Kafue Gorge station to 990MW from 900, Kariba station to 720MW from 600MW as one of the major achievements of the PRP.
The rehabilitation of Victoria Falls hydro-electricity power station in Livingstone attracted US$53 million, Kafue Gorge (US$85 million) and Kariba (US$81 million). Mr Mubemba said works at Kariba North Bank extension, which has attracted US$420 million, is almost finished and a second machine will be commissioned next month.
Commenting on the US$232 million Itezhi-tezhi project, Mr Mubemba said the company has had problem with raising funding but on Tuesday last week, a final agreement was signed with investment partners. He also pointed out that, “Despite the fact that financing arrangements were not put in place, Zesco was innovative and looked for money from other sources; we borrowed from Government and also used our own balance sheet….As I speak the work is 48 percent complete despite financing been finalized last week.” The 120MW Itezhi-tezhi project is due for completion next year.
Source: Lusaka Times
