21 January 2018
   
How ED pulled wool over Mugabe’s eyes
UN: 5 dead in DRC anti-Kabila demo
US wants Africa to shun North Korea
'Zimbabweans mentally ill after Bob horror'
Chamisa, Speaker row over G40 MP purges
ZRP reverses decision to fire top cops
Bennett: Clues sought in chopper crash
EU, UN should observe elections: Pres
MORE NEWS
Buyanga responds to investment call
ZTA targets domestic tourism
MORE BUSINESS
Delight as ZBC 'Iron Lady' suspended
Sulu arrested over $4,000 child support
MORE SHOWBIZ
Cricket: ICC clears Zimbabwe's Vitori
Zidane fuels Neymar to Real talk
MORE SPORTS
Zhuwao: kleptocracy and EDiots in Davos
Elections: Not a moment to be lost
MORE OPINION
 
Mnangagwa off to Davos empty handed
Economy: the need for a paradigm shift
MORE COLUMNISTS
 
 
Zim courts China for $2bln Sengwa power project
26/03/2014 00:00:00
by Bloomberg News
 
 
RELATED STORIES
China's PM vows more Zimbabwe support
Should China bailout Zimbabwe?
Sino-Zim cement firm in $5m upgrade
Much-touted billion$ China bailout elusive

ZIMBABWE is courting China Power Investment Corporation to invest in the 2,400 megawatt Sengwa thermal power station in Gokwe, Finance Minister Patrick Chinamasa said on Wednesday.

The Sengwa thermal project, estimated to require $2.2 billion, is owned by RioZim and Rio Tinto Plc. Chinamasa said the two companies were part of the negotiations.

The CPI Group is one of China’s five largest state owned electricity producers, accounting for about 10 percent of the Asian giant’s power output. It produces electricity through hydro, thermal and nuclear power plants.

“We have been talking to CPI and we want to interest them to take up investment in Sengwa Power Station in Gokwe,” Chinamasa told journalists in Harare.

“This was an exploratory meeting and there was a presentation which they will consider and decide whether they want to invest in the thermal power station.”

CPI managing director Lu Qizhou said the company was interested in the Zimbabwe power market.

“We were introduced to some thermal power projects so we will get some more information and do some research about these projects.

“Power generation is our competence. We are willing to work together with the Zimbabwe government and companies,” he said in response to questions.

In Africa, Qizhou said the CPI Group was involved in Tanzania, Kenya and Mozambique.

Chinamasa said the government will consider offering the Chinese company concessions.

“We are not the only destination for investment, there are other countries also and it is very important that we are more attractive to them,” he said.

The Chinese were scheduled to meet with Energy Minister Dzikamai Mavhaire.



Advertisement


 
Email this to a friend Printable Version Discuss This Story
Share this article:

Digg it

Del.icio.us

Reddit

Newsvine

Nowpublic

Stumbleupon

Face Book

Myspace

Fark

 
 
 
comments powered by Disqus
 
RSS NewsTicker