Maamba Collieries Limited has reached an agreement with anchor lenders in relation to financing for construction and installation of an additional 300 Megawatts (MW) power plant.
The construction of the project is expected to run from August 2024 to July 2026 and will cost $400m, of which a consortium of debt will finance approximately $300 million.
ZCCM – IH Company Secretary, Charles Mjumphi, says phase 2 of the Plant will be identical to the current operation and will consist of two generating units of 150MW each, increasing the total number of generating units to four.
“The new plant will utilise existing auxiliary facilities for support infrastructure such as the transmission line and coal preparation plant,” said Mr. Mjumphi in a statement issued to RCV News in Lusaka today.
He said that Maamba collieries has already signed a 20-year Power Purchase Agreement with ZESCO Limited for the Phase 2 Project.
Mr. Mjumphi said that the ZCCM-IH Board will update the market on the progress of the development and construction process in due course.
By Angel Kasabo
