Chinese bank pumps $667 million into Kam’mwamba Power project

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China’s Export and Import (Exim) Bank is to pump a whopping $667 million into Kam’mwamba Coal-Fired Power Plant Project.

Finance Minister Goodall Gondwe Finance Minister Goodall Gondwe
19
January


While disclosing this, Ministry of Energy, Mining and Natural Resources Public Relations Officer (PRO), Saidi Banda added that Malawi Government is also to make available an additional $104 million as commitment fee for the same.


Once completed, the  coal fired power plant  will increase the country’s power capacity to 651 Mega Watts, from the current  351 MW.


“We will install 300 megawatts (MW) coal-fired power plant now and in the near future expand to 1000MWs. But the expansion will be subjected to feasibility study to determine the impact it will have on the environment.


“Apart from Kam'mwamba site there are also possibilities of having similar power plants in strategic sites in Malawi,” said Saidi Banda.

Minister of Finance, Economic Planning and Development Goodall Gondwe confirmed that government has agreed with their counterparts in China to have major shareholding of 85 percent while China Gezhouba Group will have 15 percent.

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