Zimbabwe: Plan to restore power plants

ZIMBABWE’S state-owned power utility planned to raise $300 million (R3.3 billion) to restore three power plants, it said last week. “We need money for new boilers at all the plants,” Zesa Holdings group chief executive Josh Chifamba said on Thursday. “About $300m is the total cost of the entire project. If a project is doable, money can always be sourced. We are already talking to quite a number of financiers and things appear to be positive.” The stations in Harare, Bulawayo and Munyati each have installed capacity of 120 megawatts (MW). The Harare facility is not working, while the other two each have between 20MW and 25MW available. – Bloomberg