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NOV 05 2018

India to extend $310 m loan for Zimbabwe thermal power plant

  • Economic Times, ET Bureau / Hyderabad
  • Created: Mon 05th NOV 2018

 

India has announced that it would extend a USD 310 million loan to Zimbabwe to finance a rehabilitation project for a thermal power plant that would entail upgrading the station and extending its lifespan.

 

The decision was taken during a meeting between Vice President M Venkaiah Naidu and Zimbabwe President Emmerson Mnangagwa and delegation-level talks between senior officials of the two countries here, T S Tirumurti, Secretary (Economic Relations) in the Ministry of External Affairs, said while briefing media on the deliberations.

 

Hwange is Zimbabwe's second biggest power plant with an installed capacity of 920 MW.  India will also extend additional funds of USD 23 million for the Bulawayo thermal power power plant and USD 19.5 million for the Deka pumping and water intake system in Zimbabwe, Tirumurti said.

 

A fund of USD 2.9 million will also be extended to upgrade the Indo-Zim Technology Centre, which India had gifted to the African country, he said.  Naidu arrived here Friday night on the second leg of his six-day three-nation tour to Africa, which aims at deepening India's strategic cooperation with Botswana, Zimbabwe and Malawi.

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