Zimbabwe has signed a $400 million agreement with China's Sinohydro Corporation Limited to expand its Kariba hydropower project, wire services reported.
The government has signed a memorandum of agreement with Sinohydro for the expansion of Kariba by an additional two 150-MW units, the director of the Zimbabwe Power Company, the generation unit of state utility ZESA, told Reuters. The hydro project currently generates an average of about 735 megawatts, reports indicate.
China's Export-Import Bank will fund the project to $400 million, media reports indicate. Sinohydro already is working on a similar project on the Zambian side of Kariba.
Recently, Ghana's Volta River Authority awarded Sinohydro a US$5.7 million contract for rehabilitation work on cranes and penstocks of the 1,062-MW Akosombo hydroelectric project.
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