ZAMBIA'S COPPERBELT ENERGY CORPORATION PLANS TO INVEST OVER $ 900 MILLION IN NEW PROJECTS BY 2018 TO MEET RISING MINING SECTOR DEMAND.
COPPERBELT ENERGY CORPORATION SPOKESWOMAN CHAMA KALIMA SAID THAT CEC PLANS TO DEVELOP FIVE NEW HYDRO SITES IN NORTHERN ZAMBIA, WITH A COMBINED POTENTIAL TO PRODUCE 800 MW ADDING THAT "THESE WOULD BE DEVELOPED IN SEQUENCE, WITH THE FIRST TWO SITES ALONE ARE ESTIMATED TO COST $ 800 MILLION."
ACCORDING TO THE INFORMATION OBTAINED BY RADIO PHOENIX MS KALIMA SAID THAT AN ASSOCIATED TRANSMISSION LINE TO CONNECT NORTHERN ZAMBIA TO THE COPPERBELT REGION THROUGH THE DEMOCRATIC REPUBLIC OF CONGO IS ESTIMATED TO COST $ 100 MILLION AND THE PROJECTS ARE SUBJECT TO MULTIPLE APPROVALS BECAUSE THEY INVOLVE TWO COUNTRIES.
COPPERBELT ENERGY CORPORATION SPOKESWOMAN CHAMA KALIMA SAID THAT CEC PLANS TO DEVELOP FIVE NEW HYDRO SITES IN NORTHERN ZAMBIA, WITH A COMBINED POTENTIAL TO PRODUCE 800 MW ADDING THAT "THESE WOULD BE DEVELOPED IN SEQUENCE, WITH THE FIRST TWO SITES ALONE ARE ESTIMATED TO COST $ 800 MILLION."
ACCORDING TO THE INFORMATION OBTAINED BY RADIO PHOENIX MS KALIMA SAID THAT AN ASSOCIATED TRANSMISSION LINE TO CONNECT NORTHERN ZAMBIA TO THE COPPERBELT REGION THROUGH THE DEMOCRATIC REPUBLIC OF CONGO IS ESTIMATED TO COST $ 100 MILLION AND THE PROJECTS ARE SUBJECT TO MULTIPLE APPROVALS BECAUSE THEY INVOLVE TWO COUNTRIES.
SHE ADDED THAT "COMMISSIONING IS EXPECTED IN 2018, SHOULD ALL NECESSARY REQUIREMENTS AND APPROVALS BE COMPLIED WITH WITHIN THE PLANNED PERIOD AND CEC WILL INVITE OTHER INVESTORS TO HELP DEVELOP THE PROJECTS BUT WILL WORK ALONE IN THE INITIAL STAGES AND THE FIVE PROJECTS WOULD BENEFIT FROM ZAMBIA'S INTRODUCTION OF TAX BREAKS FOR NEW POWER PROJECTS.
MS KALIMA ADDED THAT CEC HAS ALSO MADE SIGNIFICANT PROGRESS IN DEVELOPING THE 40 MW KABOMPO HYDRO POWER PROJECT IN NORTH WESTERN ZAMBIA, EXPECTED TO BE COMMISSIONED IN 2015 AT A COST OF $ 170 MILLION.
SHE SAID THAT MINERS' DEMAND FOR POWER IN ZAMBIA WAS RISING FAST, WITH CEC'S SALES UP BY 8% TO 470 MW IN 2010 FROM 436 MW IN 2009 AND CEC NEEDED TO BOOST ITS OUTPUT AFTER HAVING SIGNED NEW SUPPLY AGREEMENTS WITH MINING COMPANIES BUILDING NEW PROJECTS AND EXPANDING EXISTING MINES.
FOREIGN MINING COMPANIES OPERATING IN ZAMBIA INCLUDE CANADA'S FIRST QUANTUM MINERALS; LONDON LISTED VEDANTA RESOURCES, GLENCORE INTERNATIONAL OF SWITZERLAND AND METOREX OF SOUTH AFRICA.
MS KALIMA ADDED THAT CEC HAS ALSO MADE SIGNIFICANT PROGRESS IN DEVELOPING THE 40 MW KABOMPO HYDRO POWER PROJECT IN NORTH WESTERN ZAMBIA, EXPECTED TO BE COMMISSIONED IN 2015 AT A COST OF $ 170 MILLION.
SHE SAID THAT MINERS' DEMAND FOR POWER IN ZAMBIA WAS RISING FAST, WITH CEC'S SALES UP BY 8% TO 470 MW IN 2010 FROM 436 MW IN 2009 AND CEC NEEDED TO BOOST ITS OUTPUT AFTER HAVING SIGNED NEW SUPPLY AGREEMENTS WITH MINING COMPANIES BUILDING NEW PROJECTS AND EXPANDING EXISTING MINES.
FOREIGN MINING COMPANIES OPERATING IN ZAMBIA INCLUDE CANADA'S FIRST QUANTUM MINERALS; LONDON LISTED VEDANTA RESOURCES, GLENCORE INTERNATIONAL OF SWITZERLAND AND METOREX OF SOUTH AFRICA.
PUBLISHED BY AUGUSTINE
No comments:
Post a Comment