Africa-Press – Zambia. The remaining construction works at the 2.3 billion dollars Kafue Gorge power project are being financed by Zesco and alternative funds after EXIM Bank of China froze funding to the Kafue Gorge Lower project, Energy Minister Peter Kapala has announced.
Mr. Kapala says Zesco is generating internal revenue to ensure that works at the 750 mega watts Kafue Gorge Lower project are completed early and all the turbines come online.
He said whereas government is not looking at asking Exim Bank to unfreeze funding to the project, negotiations with China to restructure and reschedule the Kafue Gorge Lower project debt are on course and there is goodwill from China who know that the new dawn government means business.
The Minister has however assured in a statement that the exporting of power will not lead to load-shedding as is being suggested in some quarters of society.
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