Work Commences On RioZim's $2,2 Billion Sengwa Power Project
Work has begun at RioZim’s $2,2 billion Sengwa thermal power plant with feasibility studies expected to be completed this month.
The construction of the massive power plant will be done by a Chinese company (PowerChina). The plant will be built in Gokwe North.
Phase one of the project will entail the construction of a 700 megawatt (MW) plant according to timeline documents seen by the Financial Gazette.
People familiar with the project who spoke to the Financial Gazette revealed that:
A shareholders agreement will be signed between the two companies in the third quarter of this year and we also expect the project’s financing model to be completed by October 30, 2019.
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By this time next year, PowerChina would have significantly covered a lot of ground on this project.
PowerChina subsidiaries Sino Hydro recently completed the Kariba South expansion project, which added 300MW into the national grid.
It has now begun work at Hwange 7 and 8 that is expected to generate additional 600MW.More:
More: Financial Gazette (Subscription Required)