The Export-Import Bank of India
(India Exim) has extended a US$87m
line of credit to the Zimbabwean
government for the renovation of the
Bulawayo thermal power plant.
This is Exim’s second loan to
Zimbabwe, taking the total value to
US$115.6m.
The first of US$28.6m was given in
June 2013 for the upgrade of the Deka
pumping station and river water intake
system.
Zimbabwean industry was warned
in January 2016 that there would
be longer and more frequent power
shortages for the next 10 years.
The country’s power utility
will extend blackouts until it can
boost capacity, Patson Mbiriri,
secretary for energy and
power development, is
quoted as telling the
annual congress of
the Confederation of
Zimbabwe Industries.
“By 2022 we will
be able to generate
enough power
for domestic and
industrial use,” Mbiriri said.
Zimbabwe needs about 2 200
megawatts of electricity at peak
consumption but generates just below
1 300 megawatts, while relying on
imports to fill the gap.
According to reports from
Zimbabwe. the country has suffered
blackouts as major electricity suppliers
have cut supplies due to the nonpayment
of dues.
Energy Minister Elton Mangoma
recently said Zimbabwe had whittled
down its debt to power providers to
under
$20 million from around $100 million
in a bid to resume imports.
Indian bank finances power station upgrade
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