Funding for construction of Kafue Gorge Lower Power Project will not be ready until the end of 2009.
The International Finance Corporation, a member of the World Bank group, says the delay has been caused by a change of the project site and the global financial crisis.
IFC Vice President, Lars Thunell says the project site has been moved to another point where an access road has to be constructed before the geo-technical studies can start sometime in March next year.
Mr. Thunell said this Tuesday in the Zambian capital, Lusaka shortly before departure from the International Airport.
He said IFC will however have to approach all financiers for the project to establish their interest in view of the global financial crisis.
And IFC Manager Southern Africa Saleem Karimjee said the project site has been moved to another point where it will be less costly to construct the 750 megawatt power station.
The feasibility study to cost $6 million was supposed to start this year while actual construction is slated to start either in the year 2011 or 2012.
Construction of the Kafue Gorge Lower is expected to cost $1 billion.
The IFC is the project adviser for the Zambian Government.
ZNBC
1!!!
Anybody know who is paying for this and if it’s a loan what the interest rate is? Thanks…
Why should this delay be an issue while nyama soya is sleeping
Its obviously a loan. As if you dont know that we have no money. The little which was there was used up during the elections by Mwalya Mweka Daddy (MMD).
It’s a wonderful feeling to be back on the blog, I extend my greetings to the LT management and fellow concerned bloggers. The 2-week punishment LT imposed on me yielded little. I expected a lot more flexibility from a well-established online newspaper such as yours, LT. Now I have returned and expect some more controversy from me. As usual, my postings are aimed at corrupt and incapable political figures. I’m not much of a government hater but I strongly feel justice should prevail, even in the poorest of nations.
We can enhance fundamental freedoms by allowing one another to air our views freely. Thank you once more for lifting the ban, be rest assured your actions will not go unpunished.
If this is another loan then I am afraid this will be too much for us Zambians. We move from one loan to another. I wish Yesu could come early enough.
GLOBAL RECESS is a big thing, from copper to kafue gorge now!
can someone please shed more light as to when and howlong this thing happened,it sounds to be like eclipse which is a rare thing. Thanx to FTJ atleast we had a chance to view eclipse in his reign….
Iam told it will be late because the have to assess if the 15 companies that applied to finance the project have not been affected by the credit crunch. Too bad because this is the only solution to Zambia’s blackouts and loadshedding(750mgw) capacity
Delaying tactics to embezle..! why do we in zambia behave as tho we have never been to school.even simple form five is able to deliver.
where are the engineers,accountants,project managers etc.This is crazy and unethical of unprofessional. yet they cal themselves managers chakuti… for what..?????????. it irritates me to see how shody some projects are done..!
#2 sony eric
I dont think its a loan. We are too poor to service it. How on earth can Zambia afford a $1billion loan??? even my calculator has failed to convert that amount into ZK.
The money is already gone before the project is started, imagine your government.This government lack seriousness, they are not objective, all they want is money. Anyway thus Zambia for you.
Imwe Ma Tall lay yenu, its like you dont read the story before you comment, I have observed that you are asking questions which the story already has clarified. READ the story carefully before you comment. This is the biggest pbm Zambia has pipo want to open their mouths without research nor any understanding of the subject matter. The biggest pbm is such pipo. You are even capable of criticising using complicated language on an issue you have not understood. Stop being lazy start reading today.
Mulepokapoka fye ama loni kwati fya mahala.These guys have no heart for the coming generations.Abana nabana babana besu ebakachulilamo.They don’t care about the future.All they care about is the everlasting present.They know that come pay back time, they will be enjoying dinner in He….
hi BABY C,SONY ERIC,
That should be a loan no sane nation can give us such money, may b only china. i say so bcoz even the USA is borrowing from china.Don,t worry abt how we pay it back,we have bn there b4,we will do a ka JUBILEE 2060.
More tactics by the World Bank to perpatuate our impoverishment. We know you WB. Anyway you are not totally to blame. You are just doing what you know best – making weak nations to labor in their fields and later slumber during harvest in the darkness of their ignorance while you reap. When you are done you quickly wake them up and before they are fully awake you lead them into heavy borrowing what actually is theirs. Big shame on the slumbering leaders in Zambia. The series of borrowing so far reported is not an encouraging phenomenon. We are entangling ourselves into shackles we or the next generation may never br freed from.
There is a Kafue Gorge power station built by the Unip government. It is a wonder. This project intends to built the biggest power station in Africa, bigger than the Aswan High and the Akosombo Hydro on the volta river. In a project of this magnitude there bound tobe some complications. But we should be a confident people and believe in ourselves including the governments we elect while they serve their term.
Zambians in the diaspora please love and believe in your country. Please know that you can live outside Zambia and still feel good about your country. A country whose citizens lack confidence can not develop. Sooner or later they become a failed state like Somalia ruled by war lords.
The New Kaue lower power station is supposed to be built by the private sector. That is why the IFC(private sector arm of the World Bank is involved)
Please commend the government for getting the IFC on board. Zambians abroad stop mourning. Set up a company and get some money from the IFC and built the Lubanseshi power station on the Kasama Luwingu road. Don’t just be negative. The world does not owe you a living and there are no free lunhes not even from your government.
Yes, this is annoying. They can find money for all the silly things one can think about NOT for important projects such as this one. I am not impressed. We need to address these issues or else our talk about development shall only be a pipe dream.
I think the govt has no option but borrow. where on earth are we going to get a billion dollars. Its either we borrow or they continue load shedding. Like #14 said ka Jubille 2060 will sort the debt out.
#19, Please check #11119. The power station is likely to be built on a PPP (public Private Partnership) probably with Zesco representing the public ownership part. So the government will not need to borrow the whole of US$1bn. That is why there are the 15 companies which IFC wishes to speak to.
# 17,Nkole, I salute you!
We should never be negative about our country neither should we block capable foreign investors. Zambians should work closely and learn from the way the humble people of China are doing it.
We can also do it!