The Arab Bank for Economic Development in Africa BADEA director general Adbelaziz khelef has expressed interest of giving out 68 million United States dollars to finance the Kariba North Bank (KNB) expansion project.
Mr. Khelef who conducted a tour of the KNB station in siavonga told journalists that he is confident that the growth of Zambia’s energy sector is able to meet the growing demands of the ever expanding economy.
He said that energy is a prerequisite of national development and it is important that it is kept in shape to meet the ever rising demands of a growing economy.
He also reveals that his bank has decided to give priority to the energy sector because that is what the government is giving its ultimate attention to.
Meanwhile, Zambia Electricity Supply Company ZESCO operations manager, Masiye Mwale said a total of USD420 is needed to completely furnish the KNB with two more generators which would result in the production of 1080 mw of power.
Mr. Mwale noted that currently the total KNB production out put is 720mw because only two of the already four installed generators are working.
He said that it is expected that the third generator would start working next week and will be able to meet the current demand in the country.
Mr. Mwale said that USD313 million has already been secured from the China Exim Bank but USD107 million is still being negotiated for with the Development Bank of Southern Africa.
And KNB Acting Project Manager, Ezekiel kasaro said it is crucial that KNB creates more corridors of transferring power from the station to other areas because the two available lines are not sufficient.
Mr. Kasaro has, therefore, called on BADEA to consider fulfilling its pledge to provide a loan of USD68 million that is being requested for.
[ QFM ]
Zesco should negotiate for low interest loans and not put themselves in a sea of debts.
That’s why electricity tariffs incresed by more than 60% in 2009 – how can Zambia make electricity affordable? By spreading the cost through an increased consumer base, working in tandem with local and central government; a policy of “power for every household”; no subsidies for the mines; government paying cash for electricity and commercialising ZESCO with no political overtues.
PF vigilates, pleas, pleas before you start scattering and start taking cover, or insulting, here is a man whoes companly sees RBs GRZ s economy growing and hence needing more power, and they whant to invest. Pleas guys aviod the Fr bwalay arnachy mentality and critisice constructivley for the benifit of Zambia, lets talk.
PF/UNDP you only seem to appear when Fr Bwalya or sata are adderssing call boys, were are you, ok i am moving to the post news paper blogspher, dont scatter and run when issues of developmental importace are beeing discussed banyee. be brave.