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Touchstone 4 Teacher s Book Free.Zambian power firm to build nuclear plant
HARARE - Zimbabwe's state-owned power utility, Zesa, intends to build a
nuclear power plant at a cost of more than $20 billion, an industry
source has said.
Zesa, which
is hoping to secure at least $2 billion in investment to fund a 20
percent stake in the project, intends to source nuclear fuel from South
Africa, the source said.
"It is going to be built in Bulawayo," the source, who asked not to be
identified, told Reuters.
Zesa, which had
$3.8 billion in cash and cash equivalents at the end of 2009, will fund
the project from its existing resources, a second source familiar with
the matter told Reuters on Wednesday.
The source said
Zesa, which sources its electricity by importing more than 90 percent of
its power, had approached a number of foreign investors and had received
positive responses.
The government
has not set a deadline for the completion of the nuclear plant, which
was announced by Zesa last year.
But the new plant
will require a massive investment of around $20 billion, and it will
have to be paid for in two phases, the first between 2010 and 2013 and
the second after 2013, when Zesa is expected to begin billing its
customers.
Energy experts
say the project may take as long as 10 years to build.
Nuclear power
prospects in Zimbabwe have been described as being "almost non-existent",
and the industry is regarded as unreliable and expensive due to security
issues.
The government is promoting the nuclear plant as a solution to the
country's chronic power shortage, which is so severe it has resulted in
blackouts in major cities for extended periods of time.
Zesa has been
exploring the nuclear option for some time.
Last year Zesa
and mining firm Barrick built a $25 million prototype nuclear power
plant in Bulawayo which was intended to showcase the technology. 0b46394aab
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