China invests in Moz power 10/05/2006 19:55 PM

Johannesburg (Fin24) - China's Export-Import Bank (Eximbank) will invest $2.3bn in the construction of a new hydroelectric power plant in Mozambique, crucial to the southern African country's plans to exploit its mineral resources, officials said on Wednesday. "The Mepanda Nkua dam and hydroelectric plant, on the Zambezi river, will be built at a cost of $2.3bn.

"The government has signed a memorandum of understanding with Eximbank on the financing arrangements," an official in Energy Minister Salvador Namburete's...

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Posted by rjorr at May 10, 2006 9:11 AM