ZPC board Chairman, Victor Gapare, said the project is expected to boost power supply in the country, “We are looking forward to this project to improve power generation in the company going forward,” he said.
The agreement signed between ZPC and Sino-Hydro will pave way for the resumption of the expansion work at Kariba South which is expected to add 300 mega watts to the national grid.
Briefing stakeholders before the signing ceremony, Permanent Secretary in the Ministry of Energy and Power Development Patson Mbiriri said the power deficit recorded in the country is mainly attributed to the lack of investment in the industry over the years.
Sino-Hydro regional director Yuzh Wang said his organisation was capable of providing the relevant infrastructure for the country and will deliver the project over four years after the resumption of construction.
Zimbabwe has been experiencing power shortages in the past three years which has seen industry failing to increase capacity utilisation.
Meanwhile government is in the process of amending the Zimbabwe Investment Authority Act to encourage investment and align the act with indigenisation among other objectives.
The Ministry of Economic Planning and Investment Promotion has already finalised the ZIA Amendment Draft Bill of 2012.
The amendment seeks to encourage investment, reduce administrative barriers to investment, ensure all foreign investment is approved and registered and transform the ZIA One Stop Shop while re-establishing processing zones as special economic zones with facilities for domestic and foreign investors to conduct their business.
Post published in: News