M a r k e t N e w s
Zambia-Tanzania-Kenya power inter-connector project
Posted on : Wednesday, 24th December 2014
The project, which was signed in Livingstone, Zambia last week on December 15, 2014, is set for completion in phases between 2016 and 2018.
“By doing so power tariffs would be reduced, our people would now get cheaper power possibly below $0.10 cents per unit,” Prof Sospeter Muhongo, Tanzania’s Minister for Energy and Minerals told East African Business Week.
Some of the development partners to the project which witnessed the signing ceremony included the European Union (EU), COMESA, the Norwegian Fund and World Bank. Others were African Development Bank (AfDB) and China Development Bank including some other financial institutions.
Apart from being cheap, the project aims at having enough and stable power which is badly needed in production , investment, potential future employment and strengthening stable economy.
The objectives of the project include facilitation of trade in power in order to reduce average energy production costs.
It would also offer improved reliability and security for power supply to both Southern and Eastern Africa and meet the immediate and future power demand.
When operational, the project is expected to reduce standby reserves and improve economies of scale and become partial cause to poverty alleviation.
Source : http://www.busiweek.com/index1.php?Ctp=2&pI=2457&pLv=3&srI=53&spI=20&cI=11
