Friday, March 29, 2024

Brazilian Global investment company targets Zambia as power hub in SADC region

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A Brazilian Global investment company has revealed that it plans to transform Zambia into a regional electricity hub for the benefit of countries in the Southern and Central African region.

Andrade Gutierrez (AG Group) says it has identified Zambia as the best location from where to develop power projects that will increase generation for local consumption and export.

Company Commercial Director Dieter Hopf has observed that the entire Southern and Central African region is currently facing power deficits.

Zambia being centrally linked makes the country a suitable strategic power distribution point to other countries in the region, he said.

This is according to a media statement released to ZANIS today by Press Secretary at the Zambian Embassy in Brazil Nicholas Shabolyo.

Mr. Hopf pointed out that his firm had concluded feasibility studies on Zambia and discovered that the country is a safe investment destination due to its political stability and robust economic progression.

“We have identified several projects within Zambia and we think Andrade Gutierrez is specialised enough to help Zambia overcome her electricity problems. Our hope is now to quickly enter into a memorandum of understanding with the government of Zambia on one of the possible projects we have identified.” said Hopf.

He said AG is currently negotiating with Zambezi River Authority (ZRA) to participate in the development of the Batoka Gorge Hydro power project to increase power generation capacity between Zambia and Zimbabwe to 1,600 megawatts.

Mr. Hopf said AG has vast experience having participated in the construction of about 40, 000 megawatts of installed capacity in Brazil .

He further said AG is currently a leading consortium for the civil construction the world’s third largest hydro power plant of 11,233 megawatt at Belo Monte Hydro electric Plant in Brazil.

7 COMMENTS

    • This is positive news if only Sata can stop his political madness of intimidating opposition parties and restore freedoms as they were in MMD Zambia will attract more investment and the Kwacha will begin to gain.

      Our neighbour Malawi is doing fine under the leadership Mrs Joyce Banda. She has stabilised the economy to a point where by the Malawian Kwacha is very stable. Malawian Kwacha has been trading at about K660 to a £1 since January an improvement from K690 to a £1 in December 2013.

      Malawi is not well resourced like Zambia but the economy is inspiring a lot of confidence because of political tolerance allowed by Madam Joyce Banda. In Malawi POA is not abused like it is in Zambia by Sata.

      THE ZAMBIAN KWACHA WILL ONLY STABILISE IF AND ONLY IF SATA STOPS ABUSING THE POA.

    • Chikwanda if you are listening, and want to find out that what I am on about POA is true, just encourage Sata to suspend the enforcement of POA and restore all freedoms with immidiate effect for 3 months, then you will see the Kwacha start to stabilise as people begin to trust our political system which in turn will lower political risk associated with our economy.

      CHIKWANDA PLEAD WITH SATA TO STOP ABUSING POA AND SEE HOW THINGS WILL CHANGE FOR THE BETTER IN A SHORT TIME.

      If Chikwanda does not understand how poor politics and abuse of POA undermines confidence in an economy and its currency then he is not fit to be a Minister of finance.

      STOP ABUSING POA AND STRENGTHEN OUR KWACHA

  1. We Electrical egineer get motived by such news! Bring the money in and we will work! Its a hight time we developed the power sector of SAPP!

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