[miningmx.com] – INDIA’s GMR Group has signed a power purchase agreement with Zesco which provides most of the electricity to Zambia’s copper mines, said Bloomberg News citing Zambia’s mines minister, Christopher Yaluma.
The local unit of GMR Group will spend $700m building a 300MW coal-fired plant. GMR’s CEO, Ajit Mishra, declined to disclose the price paid for the power.
Bloomberg News said the tariff would be “in the range” of Zesco’s deal with Maamba Collieries, backed by Nava Bharat of India, which is also building a 300MW plant in the country.
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