10 °c
London
Friday, April 16, 2021
No Result
View All Result
FurtherAsia FurtherArabia FurtherBrazil FurtherRussia
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • OpenTalk
  • Understanding
  • Videos
  • Weekend
  • About
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • OpenTalk
  • Understanding
  • Videos
  • Weekend
  • About
No Result
View All Result
FurtherAfrica
No Result
View All Result
Home Africa

RioZim evaluating bids for investors in Zimbabwe power plant

FurtherAfrica by FurtherAfrica
May 18, 2018
in Africa, Coal, Commodities, Diamond, Energy, FDI, Infrastructure, Platinum, Zimbabwe
Reading Time: 2 mins read
0
Zimbabwe gives mines, farmers 6 months to clear electricity bills
Share via QRWhatsappShare on FacebookShare on TwitterLinkedInPinteresteMail

Zimbabwean miner RioZim Ltd. is evaluating proposals from six companies to participate in its $1.2 billion power project, as the nation enjoys a return of foreign-investor attention under President Emmerson Mnangagwa.

RioZim, which plans to supply the 700-megawatt Sengwa plant from its own coal operations, is in talks with mainly Chinese groups, including State Power Investment Corp., about the project, Caleb Dengu, RioZim’s director responsible for its energy unit, said by phone Wednesday. It expects to conclude negotiations after Zimbabwe holds elections later this year, he said.

“We are inviting companies as both equity investors and debt providers, we are going for 70 percent debt and 30 percent equity,” Dengu said. RioZim will participate in both structures.

Zimbabwe, which has seen power consumption fall on the closure of fertilizer plants and chrome smelters, still imports electricity from neighbors like Mozambique and South Africa to avoid outages that plagued industry for over a decade between 2007 and 2017.

Since replacing former President Robert Mugabe, Mnangagwa has courted foreign investment to help revive an economy that has halved in size since 2000. He’s already lifted requirements for most mining companies that they must be at least 51 percent owned by local black citizens. The so-called indigenization rule remains in place for platinum and diamonds.

“The country risk has gone down following the change of guard in Zimbabwe,” Dengu said. “The repeal of the indigenization laws has encouraged investors.”

RioZim, which also has interests in diamond and gold mining, is also planning a 100 megawatt solar project to supply its operations.

The company wants to more than double output at its Murowa diamond mine, although the plan depends on arranging the necessary funding, Chairman Lovemore Chihota said in March.

Source: Bloomberg

Related

Tags: Caleb Denguchrome smelterCoaldiamondElectricityEmmerson MnangagwaFeaturefertilizer plantindigenization lawLovemore ChihotaMozambiqueplatinumRioZimSengwa plantSouth AfricaState Power Investment Corpzimbabweзимбабвеジンバブエ津巴布韦
ScanSendShare320Tweet200Share56Pin72Send
Previous Post

Ghanaian royals signatories to investments in Kumasi

Next Post

US supports increased trade with Mozambique through the AGOA act

FurtherAfrica

FurtherAfrica

Founded in 2015 FurtherAfrica is an online platform centralising news and content focusing on the development and growth story of the African continent.

Related Posts

Water

Zimbabwe to export water to South Africa

by Staff
April 16, 2021
Conference Access to Africa coming to Dakar, Senegal
Conference

Conference Access to Africa coming to Dakar, Senegal

by FurtherAfrica
April 16, 2021
Soon, Africa’s largest utility will not own any power lines
Energy

Tanzania rural electrification project continues to make progress

by Staff
April 16, 2021
Economy

Mozambique: ‘Valuation of the metical only useful if reflected on the economy’

by FurtherAfrica
April 16, 2021
East Africa Oil Pipeline construction date still unknown
Pipeline

East Africa Oil Pipeline construction date still unknown

by Taarifa Rwanda
April 16, 2021
Next Post
US supports increased trade with Mozambique through the AGOA act

US supports increased trade with Mozambique through the AGOA act

US$180B+ will be spent on 88 upcoming oil and gas fields in Africa to 2025

Angola: ENI announces completion of Ochigufu oil field

Mozambique gas company ENH hires Lazard to raise US$2B

Anadarko seeks to raise US$14B+ for Mozambique LNG project

Leave a Reply Cancel reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

2021 AFSIC
2022 Indaba Mining

FurtherAfrica Partners

The Exchange Club of Mozambique Taarifa Rwanda
CrudeMix Africa TechGist Africa Farmers Review Africa
Botswana unplugged Financial Insights Zambia Africa Oil & Power
Harambee Africa Novafrica  

Subscribe to FurtherAfrica

Enter your email address to receive notifications of new articles on your email.

Join 73,051 other subscribers.

FurtherAfrica

© 2021 FurtherMarkets

FurtherAfrica is a FurtherMarkets Limited platform

  • Countries
  • OpenTalk
  • Understanding
  • Videos
  • Weekend
  • About

Follow Us

No Result
View All Result
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • OpenTalk
  • Understanding
  • Videos
  • Weekend
  • About

© 2021 FurtherMarkets

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?