Zambia, Zimbabwe to Contribute to $4.2 Billion Hydro Project

Zambia and Zimbabwe agreed to each contribute $220 million to build the delayed $4.2 billion Batoka Gorge hydropower plant that will supply electricity to both nations.

The contributions will include exploring equity partnerships to enhance the project’s bankability, the Zambezi River Authority — a joint venture between the southern African countries that maintains the Kariba Dam complex and is also developing the 2,400-megawatt facility that lies near World Heritage site Victoria Falls, said in a statement Tuesday.