RioZim risks losing power producer licence

RioZim risks losing power producer licence
Published: 31 January 2014
Mining concern RioZim Limited risks losing its independent power producer's licence and the Sengwa coal concessions if it fails to make progress on its Gokwe North power project in the next six months.

Addressing Members of Parliament during a motion to debate the Finance Bill, Finance Minister Patrick Chinamasa said the investor has been sitting on the power producer's licence for 12 years.

RioZim is trying to develop a $4 billion thermal station in Sengwa, which would produce up to 2 000 megawatts, but the project has remained in limbo for a long time due shortage of funding.

Minister Chinamasa said this comes against a background where the country is facing crippling power shortages, which if not addressed, would retard meaningful economic growth.

The minister said that the country's main economic pillars - agriculture, manufacturing, tourism and mining - are buckling under crippling power deficits, unless the issue is fully addressed.
- herald
Tags: RioZim,

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