CATIC pledges $70 million loan for Coal Mining Expansion and Rehabilitation Project
Constant 2017 USD
Not recommended for aggregates
This project is not recommended for use in creating aggregated sums. See the documentation for more information about this criteria.
Funding agency [Type]
China National Aero-Technology Import & Export Corporation (CATIC) [State-owned Company]
Energy (Code: 230)
On 16 December, 2003, the Zimbabwe Electricity Supply Authority (ZESA) signed an MOU with China's National Aero-Technology Import and Export Corporation (CATIC) regarding a $70 million USD loan for a Coal Mining Expansion and Rehabilitation Project (See: Zim Companies Set to Clinch Major Deals). The purpose of this project was to rehabilitate and expand the coal-mining Wankie Colliery Company in Hwange, Zimbabwe (See: Zim Companies Set to Clinch Major Deals). As part of the deal the Zimbabwe Electricity Supply Authority, represented by its company chairman, Dr. Sydney Gata, would have offloaded its shares in the private Wankie Colliery to its own subsidiary, the Zimbabwe Power Company (See: Zim Companies Set to Clinch Major Deals). It does not appear that this project ever came to fruition.
Number of official sources
Number of unofficial sources
Receiving agencies [Type]
Hwange Colliery Co., Ltd. [Private Sector]; Zimbabwe Electricity Supply Authority (ZESA) [State-owned Company]; Zimbabwe Power Company (ZPC) [State-owned Company]