4 new hydro power plants
PLANS are underway by Zambia to establish four hydro electric power stations to generate about 450MW to help lessen current load shedding levels, says Zambia Development Agency (ZDA) director general Patrick Chisanga.
Mr Chisanga said the four projects were expected to be operational by the end of this year and would lead to an alleviation of power outages that the nation was currently experiencing.
Speaking at a media briefing in Lusaka, Mr Chisanga said one of the four projects was the Maamba Thermal Power station phase one which was expected to generate 150 megawatts.
He said the project was being developed in a partnership between Singapore and the ZCCM-IH.
The other one is the Itezhi Tezhi hydro power station which would generate 120 megawatts and was being developed by ZESCO and TATA of India.
Mr Chisanga said the third project was the Ndola Energy phase two which was being undertaken by ZDA together with Mauritian investors and was expected to generate 50 megawatts
The fourth one was the Kabompo hydro power which would generate 40 megawatts and was being done with the support from the Citizen Economic Empowerment Commission (CEEC). About 80 percent of the project was complete.
“So now you can see that these projects can lead to an alleviation of power outages that the nation is experiencing,” he said.
Meanwhile, Mr Chisanga revealed that pledged investment value for 2015 during the first six months had decreased from US$3,617.17 million for 2014 to US$1,136.30 million.
Mr Chisanga attributed the decrease to election activities in which it was normal for investors to step back and see where the country was politically heading to. He also said pledged employment value also recorded a decrease in the first six month of 2015 due to the same reason.
“I am however pleased to say that what we have begun to see in July an increase in the investment pledges from different sectors,” he said
And Mr Chisanga said ZDA was in the process of reviewing its Act of 2006 together with the 2016-2020 strategic plan.
He said that was because ZDA wanted to align the Acts to the business needs and make Zambia a more attractive investment destination.