Zambia’s efforts to revitalize the economy through undertaking various developmental projects has continued to attract many foreign investors across the globe with the latest being India’s Bharat Heavy Electricals Limited which seeks to partner with Chinese companies in building an additional hydro power plant and boost power generation.
The Indian company, plans to team up with China’s leading company, Sinohydro Corporation through supply of electromechanical equipment for the development of 120 megawatts hydropower project in Zambia.
The Indian company stated that for the hydropower project in Zambia, India has offered USD 50 million line of credit. In January 2010, the Export Import Bank of India signed an agreement with the Zambian government to extend USD 50 million line of credit for the Itezhi Tezhi project worth USD 200 million. While extending the line of credit the Indian government said that through its line of credit 75% of the equipment purchased must be sourced from India.
more at:
http://www.steelguru.com/metals_news/BHEL_seeks_to_work_with_developers_of_hydro_power_plant_in_Zambia/216811.html
Wednesday, July 27, 2011
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