A Chinese Company Gezhouba Group Corp will reportedly work with Rio Energy a division of Rio Zim to build a 2100 MW Thermal Power Plant a project worth R3 BIllion, ZBC News reports.
This was revealed by Rio Energy Caleb Dengu who said:
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CGGC will develop the project and assist with the fund raising, We have coal reserves to support a 10,000 megawatt plant at Sengwa,
A 250 kilometre pipeline will carry water from Lake Kariba to Sengwa. The pipeline, and a 420 kilovolt-ampere power line, will be built by PowerChina. The first phase of the project will cost about $1.2 billion.
The Industrial and Commercial Bank of China has given a formal expression of interest in the project and is negotiating with Sinosure, also known as the China Export and Credit Insurance Corp, to cover country risk insurance costs.
Zimbabwe is currently battling power shortages following the drought that ravaged the country last year and left the country’s largest power plant, The Kariba Power Station unable to operate at maximum capacity producing less than 400 MW against a capacity of 1050.
More: ZBC News