Zambia to invest heavily in energy sector
9 June 2011
The Zambian government plans to invest more than $12 billion (£7.3 billion) in order to meet local and foreign demand for power, SteelGuru.com reports
Kenneth Konga, energy minister of Zambia, said the funding will be invested in the energy sector through a Power System Development Master Plan to provide efficient and effective power as the country strives to become a middle income nation by 2030.
The project, if successful, would add 4,337 MW to the national electricity grid.
According to the plan, government prioritised power generation projects will add a total of 4,337 MW to the national electricity grid.
The government estimates that implementing the plan would require $9.5 billion for the general projects, $2.3 billion for the transmission projects and $179.7 million for distribution project by 2030.
Meanwhile, some $71 million has been loaned by the Development Bank of Southern Africa to the National Road Fund Agency of Zambia.
The cash will be used to finance the upgrading of five major roads.