China’s Sinohydro Corp. has won a contract to build the 700-megawatt Kafue Gorge Lower hydroelectric project for Zambia’s state-owned power company Zesco.
The project, located in Chikankata District, is expected to cost US$2 billion. Construction will start this December with the project expected to be complete in 2019.
The government will contribute 15% of equity financing for the project. The res if the funding will come from a loan from the Exim Bank of China.