ONN – Oakland Note: China To Finance, Build Massive New Coal Power Plant in Zimbabwe
For those who do not think a large market waits for the Oakland Bulk and Oversized Terminal by Phil Tagami and Insight Terminal Solutions’ John Siegel, think again.
The The China Africa Project on youtube reports:
The Zimbabwean government announced last month that construction of the new $3 billion Sengwa coal power plant will proceed after years of negotiation.
The new 2,800 megawatt plant will be a joint effort between Zimbabwe’s Rio Energy and a consortium of Chinese state-owned enterprises led by the Wuhan-based infrastructure contracting giant China Gezhouba Group.
Gezhouba will be the lead contractor and will also be responsible for raising additional capital. Separately, Power China will build a 250km water pipeline for the plant along with transmission lines. And on the financing side, the Industrial Bank of China will be involved and Sinosure is already on board to provide risk insurance.
Officials say everything’s line up and ready to go which could be good news for electricity starved Zimbabwe that currently produces just over half of the 2,200 megawatts that Zimbabwe needs every day.
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