Zambia, Kenya and Tanzania agree to finance power project

Feb 26, 2004 01:00 AM

Energy ministers of Zambia, Kenya and Tanzania agreed to finance a tripartite power interconnector project through public and private partnership. The project will gobble about $ 300 mm during the first phase of implementation.
Energy Minister George Mpombo and Kenya's Ochilo Ayacko said the majority of the shares would be in private hands. Mr Mpombo said the first phase of the project would be commissioned in 2007 and the second phase in 2012.

The ministers said that a project management structure comprising technical and commercial committees headed by a management team, would be put in place.
The ministers said the three governments had agreed to go ahead with the project to promote regional trade and ensure infrastructure development in the electricity sector. They said the response from the World Bank to the project was good.

The ministers met to define strategies for financing and implementing of the power interconnector project.

Source: The Times of Zambia
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