SHIKANDA KAWANGA, Livingstone
VICE-PRESIDENT Inonge Wina is today expected to open an investor conference in Livingstone focusing on the development of the Batoka Gorge Hydro-electric Scheme to cost US$4.5 billion and create about 6,000 jobs.
Speaking in an interview yesterday, Minister of Finance Felix Mutati said the conference was expected to be opened by President Lungu but that he has other official engagements with the visiting Ethiopian Prime Minister Hailemariam Desalegn.
Mr Mutati said Batoka will be the biggest power project not only in Zambia but in the Southern African Development Community (SADC) as well as the Common Market for Eastern and Southern Africa (COMESA) blocs.
He said the Batoka is part of the country’s long-term strategy to address the power deficit which is critical for industries such as the mines.
“This strategy is to scale up hydro-power generation not just for Zambia but the region. Solar and other forms of energy are important but cannot be used to drive industrial development,” Mr Mutati said.
He said the project would create employment for Livingstone, Southern Province and Zambia as a whole.
The conference has attracted over 200 delegates who include financial institutions from Europe, China, including the World Bank and African Development Bank, regional and local entrepreneurs.
Mr Mutati said the conference has also attracted providers of technology and equipment coming from Europe, Japan and the United States of America and local traditional chiefs.