By Staff Reporter
Zimbabwe and Zambia will ensure that 20 per cent of the $5bln required to develop the Batoka Gorge Hydroelectric project comes from local sources to help create employment, an official has revealed.
According to the Zambia National Broadcasting Corporation (ZNBC), Zambezi River Authority chairperson Emelda Chola said the two countries have embraced the concept of local resource mobilisation for the project.
The approach is expected to help the two countries develop local industries, unlike dependence on external source which often delays project implementation.
Mrs Chola made the remarks in Lusaka Tuesday during a stakeholder’s dialogue on mobilising domestic resources and optimising job creation potential for the Batoka project.
The multi-billion-dollar project is being implemented through the Zambezi River Authority (ZRA), a bi-national organisation mandated to exploit the full potential of the Zambezi River.
It is expected to generate 2,200MW of power, which will be shared equally between the two countries.
Three international companies have since been shortlisted for the project, which will be undertaken on a build, operate and transfer basis upstream of the Kariba Dam hydroelectric scheme.