Harare - Zimbabwe plans to build new power stations to generate 3 500 megawatts at a cost of $5 billion, the national power company said, in a bid to end chronic power cuts that have damaged the economy.
Local industries are forced to use costly diesel generators to keep operations running and the electricity shortages have been blamed for keeping away potential investors.
“We are looking at around $5 billion for the various projects and you are looking at more than 3,500 MW (of electricity),” Noah Gwariro, the managing director of state-owned Zimbabwe Power Company (ZPC) said on Thursday night.
“That's over a period of five to six years,” he said referring to the time it would take to build the plants.
Gwariro did not say how Zimbabwe would raise the funds to build the power plants, which amount to more than a third of Zimbabwe's gross domestic product.