Brazilian Global investment company targets Zambia as power hub in SADC region
Time Posted: March 20, 2014 7:43 pm
A Brazilian Global investment company has revealed that it plans to transform Zambia into a regional electricity hub for the benefit of countries in the Southern and Central African region.
Andrade Gutierrez (AG Group) says it has identified Zambia as the best location from where to develop power projects that will increase generation for local consumption and export.
Company Commercial Director Dieter Hopf has observed that the entire Southern and Central African region is currently facing power deficits.
Zambia being centrally linked makes the country a suitable strategic power distribution point to other countries in the region, he said.
This is according to a media statement released to ZANIS today by Press Secretary at the Zambian Embassy in Brazil Nicholas Shabolyo.
Mr. Hopf pointed out that his firm had concluded feasibility studies on Zambia and discovered that the country is a safe investment destination due to its political stability and robust economic progression.
“We have identified several projects within Zambia and we think Andrade Gutierrez is specialised enough to help Zambia overcome her electricity problems. Our hope is now to quickly enter into a memorandum of understanding with the government of Zambia on one of the possible projects we have identified.” said Hopf.
He said AG is currently negotiating with Zambezi River Authority (ZRA) to participate in the development of the Batoka Gorge Hydro power project to increase power generation capacity between Zambia and Zimbabwe to 1,600 megawatts.
Mr. Hopf said AG has vast experience having participated in the construction of about 40, 000 megawatts of installed capacity in Brazil .
He further said AG is currently a leading consortium for the civil construction the world’s third largest hydro power plant of 11,233 megawatt at Belo Monte Hydro electric Plant in Brazil.