Posts
Zambia and Zimbabwe have
signed a memorandum of understanding to jointly construct a 1 650-megawatt
Batoka hydro-power project, estimated in excess of 4 billion dollars.
Energy Minister,
Christopher Yaluma has confirmed stating that the agreement was signed during
the Council of Ministers, held at Kariba in Siavonga.
However, the project is subject to Zimbabwe paying an estimated 70 million dollars, plus interest at the current rate, a debt it owes Zambia for the sale of the Central African Power Corporation assets, which were jointly owned by the two countries.
Mr Yaluma has disclosed that the agreement for the project is in principle adding that the two countries also have to source for partners to bankroll the works.
And on the debt owed by
Zimbabwe, Mr Yaluma has said the Harare government will have to pay without
defaulting within a period of three years.However, the project is subject to Zimbabwe paying an estimated 70 million dollars, plus interest at the current rate, a debt it owes Zambia for the sale of the Central African Power Corporation assets, which were jointly owned by the two countries.
Mr Yaluma has disclosed that the agreement for the project is in principle adding that the two countries also have to source for partners to bankroll the works.
No comments:
Post a Comment