India Plans $310m Investment in Zimbabwe
The Government of India is offering a $310 million soft loan to finance the rehabilitation of the Hwange Thermal Power Plant, according to The Herald. The 900MW-capacity power plant is currently only producing about 550MW. The rehab of the plant, which was commissioned in 1983, would extend the life of the plant an additional 15-20 years.
Financing for the project is expected to come from Export-Import Bank of India.
“The Indian Government is keen to assist and co-operate with the people of Zimbabwe in projects that uplift your (Zimbabwean) people. This project (upgrading and life extension of the Hwange thermal power) is one such project which India is keen to help Zimbabwe and I can say we are just waiting for the finalization of the requisite paperwork between the two countries before the $310 million can be availed,” India’s Ambassador to Zimbabwe Rungsung Masakui is quoted by The Herald.