Zim, Zambia in bid to clear hydro project plant proposals

By ZBC Reporter

Zimbabwe and Zambia are expediting outstanding project proposals for the Batoka Gorge Hydro Electric plant ahead of its take off next year.

Project construction activities for the plant which were stalled by the Covid-19 pandemic are being revived.

Responding to inquiries by ZBC News, the Zambezi River Authority (ZRA) revealed that the Trade and Development Bank of China is also mobilising capital for the project.

The authority stated that full swing construction activities for the plant are now expected to start next year.

With over four billion United States dollars required, local pension funds are also being tapped or considered in terms of project financing.

The hydro power plant is regarded as important in addressing energy challenges.

Zimbabwe and Zambia have also approved a strategic plan which provides modalities regarding construction works, capital mobilisation, project evaluation and completion targets.