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Mozambique Energy: State power company owes US$90 million to Cahora Bassa Hydroelectric Plant
Electricidade de Moçambique (EdM) “is working to pay off the debt it has with the Cahora Bassa Hydroelectric Power Station,” the state-owned company’s chairman said recently, in statements made in the district of Derre, in Zambézia province.
Mateus Magala, who acknowledged that the amount owed should have been paid in full in 2016, added that the company owes US$90 million to the management company of the largest hydroelectric facility in Mozambique.
The chairman of EdM announced that the electrification of the new district headquarters is expected to be completed by the end of the first half of 2018 and added that in the specific case of Derre more than 3,000 people will have access to electricity as part of a project in which the company will spend US$1.5 million.
With the arrival of electricity in the district, Magala said the time has come for “the population to think about setting up small, medium and large companies to transform raw materials into finished products, re-launch tourism and other activities that can develop the province of Zambézia.” (source: macauhub)