The Cahora Bassa Hydroelectric Plant (HCB) has a 10-year investment plan in the amount of 500 million euros, Vital Capex, to recover and modernise the company’s electricity production system, said the company’s chairman.
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The Public Offering (IPO) of shares corresponding to 7.5 percent of the share capital of the Cahora Bassa Hydroelectric Dam (HCB) in Mozambique Stock Exchange (BVM) is delayed. “We must avoid giving information that eventually will give advantage to certain people” tried to clarify clarified the HCB CEO, Pedro Couto.
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Cahora Bassa Hydroelectric (HCB), a company that operates the Cahora Bassa dam on the Zambezi River in Tete, Mozambique, made a profit of 7.2 billion meticais (about US$118 million) in 2017, despite the facility being unable to operate at its full capacity due to the low water level in the reservoir, Mozambican state news agency AIM reported.
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Hidroelectrica de Cahora Bassa (HCB), the company that operates the Cahora Bassa dam on the Zambezi river, in the western Mozambican province of Tete plans to expand and diversify its business portfolio, to mitigate the risk of concentrating its entire assets in one place.
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Revenue from the Cahora Bassa Hydroelectric Power Plant (HCB) entering the public coffers reached approximately US$10 million at the end of the first half of this year, more than twice that in the same period in 2017.
Read MoreHidroelectrica de Cahora Bassa (HCB), the company that operates the Cahora Bassa dam on the Zambezi, in the western Mozambican province of Tete has announced that a consortium between the BCI (Commercial and Investment Bank), the second largest commercial bank in Mozambique, and the Global Investment Bank (BIG) of Portugal, will head the banking syndicate in charge of selling 7.5 per cent of HCB shares.
Read MoreHidroeléctica de Cahora Bassa SA (HCB) and Guncrete Geotechnical (Pty) Ltd have signed a contract for geotechnical work to improve the structural safety of the rocky southern slope of the dam.
Read MoreDespite low levels of water in the Zambezi River, the Cahora Bassa dam, in Mozambique’s western province of Tete, generated more electricity than planned in the first quarter of this year.
Read MoreThe power cut on Tuesday in the central and northern parts of the country caused financial damages to the company Hidroeléctrica de Cahora-Bassa (HCB) close to US$1Million.
Read MoreA technical intervention at the Cahora Bassa dam power plant caused a blackout of about five hours on Tuesday in central and northern Mozambique, the company announced today.
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