Zambia Firms Back Out of Liberia Utility Bid

28 March 2010 (Last Updated March 28th, 2010 18:30)

Zambian power companies Zesco and Copperbelt Energy Corp (CEC) have withdrawn a joint bid to manage Liberia Electricity Corporation. Zambian state utility Zesco and CEC had been shortlisted to manage Liberia Electricity Corporation, whose infrastructure was run down during the country's

Zambian power companies Zesco and Copperbelt Energy Corp (CEC) have withdrawn a joint bid to manage Liberia Electricity Corporation.

Zambian state utility Zesco and CEC had been shortlisted to manage Liberia Electricity Corporation, whose infrastructure was run down during the country's civil war.

"We withdrew from the Liberian bid because Zesco opted to drop out citing huge challenges back home and we thought we should not proceed alone as CEC," Hanson Sindowe told Reuters.

Zambia faces regular blackouts as Zesco rations power to ensure a steady supply to key industries such as the mining.