VENTURES AFRICA – Chinese company Guangdong Bureau of Coal Geology (Guangdong) plans to invest $3.5 billion towards the construction of a 1,200 megawatt (MW) thermal power plant in Zimbabwe, according to a senior official of the company.
While addressing journalists at the Zimbabwe’s Economic Planning ministry, Guangdong’s DG Mu Yong said the Chinese delegation came to “observe and study the possibility of building a thermal power plant.” He furthered stating the “proposed budget is about $3.5 billion for a 120 million watts plant.”
“We also hope Zimbabwe can provide good policy like labour law and other support,” he added.
According to official estimates, completion of the thermal power station will employ 2 000 permanent workers.
The Chinese investment comes following interest from other investors, including India’s Essar Holdings’ African unit, to build thermal power plants and mitigate the country’s power deficit which now stands around 800MW.
Zimbabwe has an average power generation of 1 400MW against increasing national demand of 2 200MW. The southern African country is battling huge power deficit which have affected industrial production.
According to Zimbabwean publication Dailynews Harare entrepreneur Ken Sharpe recently disclosed intentions to establish an alternative energy generation firm, Infinite Energy Africa, to contribute to Zimbabwe’s national electric power output by converting into electricity, landfill methane gas from Harare’s main dumpsites.