This is revealed in a document in our possession that was prepared by the Ministry of Finance. It has already been discussed by President Robert Mugabe's bloated Government of National Unity Cabinet.
Insiders said there were jitters about the huge amount of cash needed for the project, especially coming at a time when Zimbabwe is seriously in the red.
The nation owes international creditors $7 billion estimated by the Washington-based International Monetary Fund (IMF) to be "very conservative indeed".
The Deputy Prime Minister, Arthur Mutambara, has already pointed out that Zimbabwe currently has no "Gross Domestic Product to shout about because it owes creditors $7 billion, an amount similar to the GDP.
The document says $5 million is needed for the Deka Pump Station, while a large chunk of the cash will be earmarked for the Coal Plant at the Thermal Power Station.
But the majority will go towards the broken down Boiler Plant which needs $17 350 000.
Hwange Thermal Power Plant seriously needs generators, the document points out, as well as a Turbo Generator 1-6, needing a total of $10 million.
For the total risk involved in carrying out the important project, "risk mitigation" will gobble $6 million from the government's currently empty coffers.
The problematic but major coal producer has a market capitalisation of $129,3 million. With a current share price of about 71c, the counter is among the most heavily capitalised mining entities on the bourse today.
Post published in: Zimbabwe News