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Alba Iulia
Wednesday, July 28, 2021

Construction of nuclear plant stalls, Russia refuses to bankroll the US$10 billion project

Headlines Construction of nuclear plant stalls, Russia refuses to bankroll the US$10 billion...

Russia says it is unprepared to make a financial commitment towards the construction of a US$10 billion nuclear power plant in Zambia.

And Zambia says it lacks adequate funds to finance the project.

This was part of an in-depth discussion on the construction of nuclear plants when Chairperson of Russian Federation Council Matvienko recently met President Edgar Lungu at State House.

The Zambian Government hopes that upon commissioning of this project, excess power generated from this plant could be made available for export to neighbouring countries under the SADC Power Pool framework arrangement.

Under the agreement that was concluded in December 2016, the construction of the nuclear plant was estimated at US$10 billion.

The processes of design, feasibility study and approvals regarding the project have been concluded.

Mrs Matvienko said Russia and Zambia both agreed that they will find options for financing nuclear science and technology in the country.

“Now the start of the construction of a center for nuclear science and technology has been suspended due to financial issues. I would like to say that the request submitted to the Russian president is being carefully considered by the ministries and departments. I’m confident that we will jointly find options to promote funding to roll out the construction of a center for nuclear science and technology,” she said.

According to the Russian official, there are necessary conditions for the development of cooperation on high technology between Russia and Zambia.

She called the construction of a center for nuclear science and technology a priority bilateral project.

“We know that Zambia considers the construction of a center for nuclear science and technology as the first step in the development of the peaceful use of the atom and plans to consider the construction of a nuclear power plant in the future. Of course, this will qualitatively change the economy of Zambia: not only it will be able to fully meet its electricity needs, but also to export it to other countries,” Mrs. Matviyenko continued.

Mrs. Matviyenko, recently headed a Russian delegation on a three-day working visit aimed at strengthening parliamentary diplomacy with Zambia.

According to an official release from the Federation Council, the visit was within the broad framework mechanism of parliamentary consultations between Russia and African countries.

State House issued an official statement that said the high-level visits between Zambia and the Russian Federation “is a demonstration of the warm relations that exist between the two countries.”

31 COMMENTS

  1. ‘…excess power generated from this plant could be made available for export to neighbouring countries…’
    Is this really what out leadership was banking on to get financing? Tiyeni tizinkalako serious.

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  2. Don’t be lied to. We have lots of interested parties looking to finance this from the private sector.

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    • That’s good then we are looking forward to seeing these investors. That’s great lets here from them. Too many things said without actual action so getting us worried

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  3. These countries have money but also getting concerned with internal reports of rampant fraud and corruption with the government. Yes today here we lost 134 billion dollars on the stock in one night and its been going on. Fuel prices have crashed to all time lows at bowsers its terrible. Most countries will be looking for good projects so its up to us to get this tag we are putting ourselves into of a bad governance country. No one will invest billions now. Even the rail story its all h0gwash

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  4. Well it appears even the russians have realised that the country is dead broke and the economy is going down the drain under the invompetent corrupt leadership we have.
    That 10billion would have disappeared into the pockets of the view greedy, who love and worship money; who show no care for the suffering of the masses.
    Doctors go unpaid and they steal
    No medicine in hospitals and they steal
    Lecturers are not paid and they steal
    Universities are not funded and they steal
    People die of hunger and they steal

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  5. Blessing in disguise. By the way, why are you using a picture of a coal power station to depict a nuclear power station? If we can’t handle a few bandits terrorising the nation, how can we be trusted with nuclear energy?

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  6. By the way we now have cheap meal meal thanks to the solar hammer mills..,, only a Pathetic F.ool sees the meal meal

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  7. Cheap oil from Angola has now started being sold in Zambia after the construction of the oil pipeline…. wankers daydreaming

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  8. Before you all start politiking about the blessing or not of the project, first ask about moneys that the government said they paid up front. There was billions of moneys paid just like we are now hearing about more moneys being paid towards new railway entrants were we all know nothing will come out of it, just like we knew about this. Broad day light, they lie & steal & you are left debating

  9. The humble president has just signed a deal for cheap oil from
    Saudi Arabia….. clueless F.ool for a president

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  10. You can not even organise a garbage collection recycling disposal scheme , how can you handle nuclear power ba PF ????

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  11. GREAT NEWS, I BELIEVE OUR ANCESTORS HAVE WOKEN UP & INTERVENED ON OUR BEHALF!
    These dishonest inept Corrupt P.F. Kaabwa’z, who cannot even properly manage a City center Public t0ilet, would have used this potentially dangerous venture solely for kickbacks /Election funding & the time would have later arrived where we had a Fukushima or Bhopal type disaster on our hands.
    Unfortunately the P.F [email protected] who would have led us to this terrible environmental disaster, would simply have used the same Dollars acquired from this white dangerous Elephant to flee leaving you poor Zambians to die like flies due to their Corrupt incompetence & unsatiated greed!
    WHAT’S WRONG WITH SUSTAINABLE GREEN ENERGY?
    Lastly, P.F, KUYABEBELE!

  12. I always wonder our rationale for certain decision. Nuclear power is a last resort to any country when they do not have alternative energy sources. Countries with year of experience, means and technical capacity are shutting down plants and our country, which can’t even meet its salary obligations, has no experience, no technical capacity and with plenty alternatives with adequate experience and experience, is thinking of going nuclear. I really don’t understand. It’s like a child. Before learning to walk, we tell him to compete with Hussein Bolt in 100 m. Let’s advice our leaders without prejudice. I rest my case.

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  13. We already told you MORONS but you have already put people like former Cabinet Secretary and others on Directors payroll…even at the pointless National Airlines now we hear you will have to folk out $700K a month to Ethiopian Airlines!!

  14. In energy additions and transitions Global We have seen more 100s of COAL and NUCLEAR power plants being retired as more renewables and GAS fired power plants flexible take rootIts not surprising so that such a power plant cannot receive funding and let alone achieve commercial operations into Zesco at least PPA because of its costly nature most of the Nuclea power plants have been retired and the few will retire by 2050 Its a blessing in disguise for Zambia that it has failed except for medical smaller scale use

    Zambia should not be in the opposite

  15. Umutonga alishupa. Very negative in everything unless it comes from their small god. I can bet 98% of the negative comments are from nega nega niggers.

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  16. Zambia do not need Nuclear Power Plants, we have the hydro, continue to build more hydro power stations, and start solar cells power plants together with windmills parks. Its clean and effective, its cheap. Water sun and wind do we have in Zambia, so use it.

  17. Zambia needs to tap realistic projects like Solar power stations. Nuclear power may be needed in countries like Nigeria, China, Egypt USA because the populations are large

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  18. This is a blessing in disguise. These guys have the appetite to rip off even the Russians.

    Also, if we cannot manage ZESCO, how will we manage a nuclear plant? Ever heard of Chernobyl?

    Also, once we go nuclear, we become battle ground for the large countries.

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  19. What is the capacity of the nuclear plant, costing $10 Billion, for one to make a comparison with other methods of generating electricity. For example, the total installed costs for large-scale hydropower projects typically range from a low of USD 1 000/kW (USD 1 million/mW) to around USD 3 500/kW ($3.5 million/mW). Based on the cost of a hydropower plant , you are talking of a 3000 MW to 10, 000 MW nuclear plant from the $10 billion. Compare this with the total installed capacity on the Kariba Dam, whih is about 2000 MW, 1060 MW on the Zambian side and 1090 MW on the Zimbabwean side.

  20. This arithmetic is is okay per USD/Mw of LCOE USD 1000 to USD3500 could be very competitively expensive

    Meanwhile Meanwhile Eskom is battling with Defect risk on its nuclear Power plants

  21. For the first time I will just say “AMEN” to the Russians. We have a moribund administration that is unable to pay its citizens and you think it can manage a nuclear plant. Fimo mulekwata ko insoni like Kambwili often says.

  22. Now that’s what I say discussing great developmental ideas and issues. ..hats off to ECL..this is very visionary. Keep on challenging us to start thinking in higher levels.. most of the people are stack discussing corruption , eligibility 2021, Zambian citizen, meal prices, etc…

Comments are closed.

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