China Bank Grants Loan for Power Line in Zambia

1 May 2011 (Last Updated May 1st, 2011 18:30)

China's Industrial and Commercial Bank (ICBC) will provide a $285m loan to Zambia for the construction of an electricity transmission line. China's TBEA will be responsible for the construction of the 365km transmission line, which will connect Zambia, Tanzania and Kenya. Co

China's Industrial and Commercial Bank (ICBC) will provide a $285m loan to Zambia for the construction of an electricity transmission line.

China's TBEA will be responsible for the construction of the 365km transmission line, which will connect Zambia, Tanzania and Kenya.

Construction of the power line is scheduled to commence in November 2011.

Managing director for Zesco, a power company in Zambia, Ernest Mupwaya, told Reuters that the transmission line will not only improve security and reliability of supply but also enhance cross-border power trade.