21 January 2018
   
'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
ANC agrees to force Pres Zuma out
Africa 'shithole' now tourism trump card
Tsvangirai golden handshake confirmed
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
Elections: Not a moment to be lost
A view beyond the Zimbabwe coup
MORE OPINION
 
Mnangagwa off to Davos empty handed
Economy: the need for a paradigm shift
MORE COLUMNISTS
 
 
Batoka delays cost Zimbabwe and Zambia $45bln, says World Bank
14/09/2015 00:00:00
by The Source
 
 
RELATED STORIES

THE delayed construction of Batoka Gorge Power plant, a 2,400Mw hydroelectric scheme joint venture between Zambia and Zimbabwe, has cost the two countries more than $45 billion in missed economic opportunities, the World Bank has said.

Initially mooted in 1992, the project was stalled due to an impasse between the two countries over a $71 million debt accrued by Zimbabwe emanating from shared costs of the construction of Kariba Dam and associated infrastructure during the tenure of the colonial era Central African Power Corporation (CAPCO).

CAPCO was co-owned by Zimbabwe and Zambia during the Federation of Rhodesia and Nyasaland. It was disbanded in 1987 and later succeeded by the Zambezi River Authority.

The World Bank’s Cooperation in International Waters in Africa (CIWA) fund — which was central in facilitating resolution of the deadlock and analysing the foregone benefits associated with delayed implementation — said “the missed opportunity amounted to an estimated $7 billion in foregone electricity sales and an overall economic loss of over $45 billion”.

The project was resurrected after Zimbabwe cleared the debt in 2014 with construction work expected to commence in January next year once a financing structure has been established.

The Batoka plant is expected to take six years to complete with total costs estimated in the region of $3 billion.



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