Indian firm gets go-ahead for $3b Mozambique plant

By Bizclik Editor

India's Jindal Steel & Power have been given the go-ahead to build a 2,640 megawatt coal-fired power plant in Mozambique.

 

The plant will be built in Tete, a northern province of the country, renown for having some of the planet' largest untapped coal reserves.

 

The plant, expected to cost $3 billion, is due to start operating in 2015, the energy ministry said, with power to be sold in Mozambique and across southern Africa.

 

Mozambique already exports power to neighbouring countries Zimbabwe and South Africa, which struggle to meet fast-rising demand.

 

 

Read more from the WDM content network:

Attracting and keeping online shoppers in Africa

Africa's highest paid sports stars

Setting the standard for corporate sponsorship

Technology giant Siemens re-organises to excel in African industry sector

 

To read the latest issue of African Business Review, click here

 

Tete has attracted lots of foreign investment due with miners such as Vale and Rio Tinto developing coal fields left untouched since the end of the civil war almost two decades ago.

 

A 1,500 MW hydro-power project is also to be built in the country involving a consortium consisting of Brazilian conglomerate Camargo Correa, Mozambican investment company Insitec Group and state electricity firm EDM.

 

African Business Review is now available on the iPad. Click here to download it.

Share
Share

Featured Articles

Musk’s multibillion hostile Twitter takeover – the timeline

As billionaire entrepreneur Elon Musk buys Twitter for US$44bn, we draw up a timeline, from the buying of shares to the critical tweets and unsolicited bid

Sustainable moves businesses can make to win customers, IBM

With half of consumers saying environmental sustainability is more important today than a year ago, businesses should up their eco action, says IBM report

Banks and consultancies top workplaces to grow career in UK

Financial and professional services firms rank highest in LinkedIn Top 25 best workplaces list – from Barclays, Lloyds and HSBC, to PwC, Deloitte and EY

Top 10 women in technology in Europe

Leadership & Strategy

The value of ESG links sustainability to business returns

Sustainability

Top 10 European football clubs by revenue 2022 – Deloitte

Corporate Finance