Friday, 6 December 2013

Batoka Dam project secures US$6M funding from World Bank

Source: Financial Gazette (Zimbabwe)
Date: 05/12/13

ZAMBEZI River Authority (ZRA), a company which manages the water resources of the Zambezi River on behalf of Zimbabwe and Zambia, has secured US$6 million from the World Bank for the updating of feasibility studies for the proposed Batoka Gorge Hydro-electric dam.

ZRA’s public relations and communications manager, Elizabeth Karonga said ZRA would next week announce the winning bidder to update the feasibility studies. Work would start in February 2014.

“Yes, the US$6 million funding required for the updating of the feasibility study has been secured from the World Bank,” she said in a telephone interview from her base in Lusaka, Zambia. We will evaluate the bids submitted by the six shortlisted companies and the winning bidder is expected to be announced next week and work will start in February next year.”

ZRA is also evaluating the bids for six shortlisted consultants for the Environmental Social Impact Assessment (ESIA). It is also evaluating bids submitted by shortlisted transaction advisors. The company said only after the above processes have been completed would it inform those who expressed interest to develop the Batoka project on a Build, Operate and Transfer (BOT) basis. The companies involved were 26 and have since been ranked but not yet informed about the results.

The US$2.5 billion Batoka project is expected to generate 1,600 megawatts (MW) of electricity to be shared equally between Zimbabwe and Zambia.

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