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Zimbabwe Power Utility Halts Sinohydro Project, Independent Says

Nov. 18 (Bloomberg) -- Zesa Holdings (Pvt) Ltd., Zimbabwe’s state power utility, canceled an agreement with Sinohydro Corp. to expand the Kariba hydropower plant, the Zimbabwe Independent reported, citing Zesa Chief Executive Officer Josh Chifamba.

The deal wasn’t transparent enough and Zesa will re-issue an international tender, the Harare-based newspaper said on its website. Zesa plans to increase power output at Kariba by 600 megawatts from 750 megawatts, it said.

Zimbabwe and neighboring Zambia agreed to build the 3,000-megawatt Batoka hydroelectric plant on the Zambezi River, the Independent said. Zimbabwe is generating about 1,400 megawatts of power, compared with demand of 2,400 megawatts, it said.

Link to Company News:{SHYDRZ CH <Equity> CN <GO>}

To contact the reporter on this story: Brian Latham in Johannesburg at blatham@bloomberg.net

To contact the editor responsible for this story: Gordon Bell at gbell16@bloomberg.net

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