the zambian Government through its ministry of finance will give ZESCO limited a sum of $186million from the 500million dollar bond by the end of this year as a way to ramp up or improve the power utility's operations.
the zambian Government intends to issue a $500million bond in the European market to raise money for infrastructure development by the end of the year.
Meanwhile
the world bank is set to give the company through a loan a sum of $300million
for distribution of power in all areas where it supplies
electricity.
ZESCO
managing director Cyprian Chitundu says the $186million will be pumped into the
operations and upgrading of the Kafue lower gorge which will be completed in
2018.
Mr.
Chitundu says the power utility company board of directors is also planning to
comply with government’s directives for all companies to list on stock exchanges
so that local can participate in the companies.
He says
listing on the stock exchange like the Lusaka stock exchange will give an
opportunity to Zambians to participate and own shares in the
company.
The ZESCO
managing director says once all the projects which will cost the company about
$5.3billion are operational, the country will minimize in load
shedding.
Mr.
Chitundu says at the moment load shedding will continue until all the projects
are completed hence it is important that people comply with the company’s
directive of conserving energy by switching off all appliances which are not in
needed at a particular time like geysers
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