Zimbabwe To Receive $333 Million Loan From India To Upgrade Power Stations

Indian Vice-President Venkaiah Naidu announced the Asian country will extend a $333 million to Zimbabwe for the upgrade of Hwange Thermal Power Station and rehabilitation of Bulawayo Thermal Power Plant.

$310 million will go towards the Hwange rehabilitation programme while $23 million will be used on the Bulawayo project. India will also give Zimbabwe a $19.5 million soft loan for the Deka Water Pipeline project in Hwange. Vice President Naidu’s statement reads:

During the visit, Vice President Naidu announced a $310 million line of credit for upgrading of Hwange Thermal Power Station additional $23 million line of credit for rehabilitation of Bulawayo Thermal Power Station and an additional $19,5 million line of credit for Deka Pumping and River Water Intake System. He also announced a grant for construction of Mahatma Gandhi Convention Centre, $2,93 million grant for upgrading of Indo-Zim Technology Centre and gifting of 10 ambulances to Zimbabwe, live saving drugs and deputation in five specialised areas. This gesture was deeply appreciated by the Zimbabwe side.

More: Chronicle


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