The loan, which had a 38-year maturity, was then on-lent to the Zambezi River Authority
, which is 50-50 owned by Zambia and Zimbabwe.
So much so that the operator--the Zambezi River Authority
has issued an instruction to cut throughput to preserve water levels.
More information can be obtained from Elizabeth Karonga, the Public Relations & Communications Manager, Zambezi River Authority
on e-mail karonga@zaraho.
The global donor-backed project is intended for helping the Zambezi River Authority, which is in charge of the supervision of the Kariba Dam, to have the long-term safety and consistency of the Kariba Dam Hydro-Electric Scheme.
The Kariba Dam Rehabilitation Project, which calls for $300 million investments, will facilitate the Zambezi River Authority to remodel the dam s plunge pool and renovate its spillway, plus enhance the operations of the dam to achieve global safety standards for the same.
In early February, the Zambezi River Authority
announced its intention to open up to three flood gates at Kariba in anticipation of rising levels later in the first half of 2013.
The project aims to assist the Zambezi River Authority in securing the long-term safety and reliability of the Kariba Dam Hydro-Electric Scheme.
The project, with total financing of $300 million, is being co-financed by the African Development Bank and the European Union and will help the Zambezi River Authority, which is responsible for the management of the Kariba Dam, to reshape the dam s plunge pool and refurbish its spillway, as well as improve dam operations in order to bring it up to international safety standards.
Because of our particular situation some of the money will be directed to Zambia and Zambia will on lend to Zambezi River Authority
The official commented All parties made technical presentations at the meeting which was hosted by the Zambezi River Authority
, we agreed that the project is urgent and we need to do the best we can to advance.
In a development that would address the dam's structural and stability issues, the Zambezi River Authority
(ZRA) has received US$230 million to restore Kariba Dam.
A feasibility study is being carried out by Zambezi River Authority
and Zimbabwe Electricity Supply Company, said Mr Yaluma.