State-owned Export-Import Bank of China will finance the revival of the long-delayed US$2.3 billion Mphanda Nkuwa Hydroelectric Project in the Mozambican province of Tete, the African Press Agency (APA) reports.
APA quotes a written statement issued by the Mozambican Ministry of Mineral Resources and Energy as saying the ministry has invited consulting firms to bid competitively to help its Mphanda Nkuwa Hydroelectric Project Implementation Office to do the legal and financial paperwork, to bring the technical studies up to date and to choose a partner in the project for state-owned utility Electricidade de Moçambique and the Cahora Bassa Hydroelectric Plant, which is upriver from the project site.
The plan is for the Mphanda Nkuwa power station to have a capacity 1,350MW, enough for electricity to be exported to neighbouring countries, APA says.
