Mthuli Sets $8.4 Billion Aside For The Expansion And Rehabilitation Of Hwange Power Station

The Finance Minister while presenting his 2020 budget on Thursday announced that he was proposing to set aside $8.4 billion for the expansion of the country ‘s second-largest electricity plant the Hwange Thermal Power station, Mining Zimbabwe reports.

Presenting his second national budget Mthuli Ncube said:

The 2020 Budget seeks to alleviate power supply constraints through the following strategies, rehabilitation, and expansion of Hwange Thermal Power Station, $8.4 billion. We will support alternative sources of energy such as solar power projects through various fiscal incentives relating to importation of equipment and respective accessories.

20 IPP solar projects are already lined up for implementation. While Zesa will raise the local resource component through cost recovery tariff model, Government through the RBZ will assist to mobilise the requisite foreign currency from the market.

Hwange Power station has been battling a mountain of problems of late, chief among them, having to deal with old machinery in production.

More: Mining Zimbabwe

 

Satisfaction survey
How likely is it that you would recommend Pindula News to a friend or colleague?
SuggestionsHow can we improve?
You have already submitted your feedback. If you would like to add more feedback please write us on hello@pindula.com.

RSS Recent Pindula Profiles

Comments

Back to top

Write a Comment

Your email address will not be published.