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Zambia: President Lungu meets Chinese potential Investors at State House
Zambian President Edgar Lungu confers with Chairman of the Board of Directors Bank of China Guoli Tian (r)
while Chinese Ambassador Yang Youming listerns when the delegation called on the President at State House
Zambian President Edgar Lungu this morning met the China International Water and Electric Cooperation delegation that intends to invest into the construction of Batoka and Kalungwishi hydro power stations.
The delegation met President Lungu at state house today to express their interest to invest in the two hydro power stations.
ZANIS reports that Company general manager (1a)Lui Zengxue said his company would like to build the power station on a Public Private Partnership (PPP) basis with the Zambian government if the tender is accepted.
Mr. Zengxue said his company is willing to work with the Zambian government in the energy sector to implement hypo power project, solar and wind energy projects.
And speaking to journalists after the meeting, Minister of Energy (1b) Matthew Nkhuwa said his Ministry has received about 15 letters from bidders who have expressed interest to build Kalungwishi and Batoka hydro power stations.
Mr. Nkhuwa said the successful bidder will be picked and announced once the process is done.
He said government is undertaking a transparent selection process by allowing all interested investors to tender for the projects.
The minister disclosed that the successful bidder will only be picked once the feasibility studies have been conducted by the World Bank.
He said the World Bank is currently conducting feasibility studies to evaluate the cost of the project but stated that the project may gooble in access of US$4.5 billion.
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