ADB To Provide US$150mn Loan For Power Project


News: The African Development Bank (ADB) has announced that it will provide a US$150mn loan for the construction of a 300MW coal-fired power plant as well as the revamping of the Maamba coal mine in Zambia. Maamba Collieries Limited, a joint venture between Singaporean conglomerate Nava Bharat and state controlled Zambia Consolidated Copper Mines, will develop the facility. The project would help deal with the problem of unregulated and spontaneous self-combustion of tonnes of currently unused low-grade coal while producing electricity to combat power shortages in the country.

This article is tagged to:
Sector: Infrastructure, Power
Geography: Zambia

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