LUSAKA, (Xinhua) --
The governments of Zambia and Zimbabwe intends to
come up with a roadmap on the development of a joint power
project following the successful holding of a conference to
solicit for funds, a senior Zambian government official said on
Minister of Finance
Felix Mutati said the roadmap for the development of the Batoka
Gorge Hydro Electric Project will be developed in consultation
with stakeholders from the two countries, according to a
statement released by his office.
The Zambian minister
said the investor conference held last Friday was
over-subscribed in terms of attendance and interest, adding that
the two governments stressed the urgency of timely execution of
the project in order to address the power demand of the two
“The Batoka Investor
Conference generated significant interest from both financiers
and investors who expressed strong commitment to participate
once the project procurement documents were finalized,” he said.
The two governments
committed to a transparent bidding process which would ensure a
competitive process and value for money, he added.
The two countries
want to develop the power plant at a cost of 4 billion U.S.
dollars. The project involves the construction of a dam wall and
two power stations on the Batoka Gorge to be producing 1,200
megawatts of electricity each.
HARARE, (Xinhua) --
Zimbabwean Finance Minster Patrick Chinamasa speaks during a
press conference to announce details of the investors conference
on the Batoka Gorge Hydro-Electric Scheme power project between
Zimbabwe and Zambia, in Harare, Zimbabwe, March 23, 2017.
Feasibility studies for the 2,400 megawatt (MW) Batoka Gorge
Hydro-Electric Scheme and mobilization of funds would commence
before the end of 2017.
figures, Zambia’s power demand is projected to grow from 1,911
megawatts to 5,508 megawatts by 2035 while Zimbabwe’s power
needs may increase from 2,116 megawatts to 5,301 megawatts.