Message Ven 1 Avr 2011 07:33

CEC to invest $900m in new projects

By Gift Chanda
Fri 01 Apr. 2011, 04:00


COPPERBELT Energy Corporation (CEC) says it plans to invest over US $900 million in new projects by 2018 to meet rising mining sector demands.

CEC spokesperson Chama Kalima said the investment will go towards developing five new hydro-power stations in the northern part of the country.

Kalima said the hydro-power station will have a combined potential to produce 800 megawatts (MW).
She said these would be developed in sequence, with the first two sites alone estimated to cost US $800 million.

Kalima said the projects are expected to be commissioned by 2018.

She said the five projects would benefit from the country's introduction of tax breaks for new power projects.

Kalima also disclosed that CEC had made significant progress in developing the 40 MW Kabompo hydro-power project in North Western Province.

She said works were on course and the project was expected to be commissioned in 2015 at a cost of US $170 million.

Kalima said due to the miners’ demand for power, CEC had scaled up sales by eight per cent to 470 MW in 2010 from 436 MW in 2009.