ICBC provides $22.16 million loan for Chipata-Lundazi-Chama 132kV Transmission Project (Linked to Project ID#57573)

On August 10, 2017, the Industrial and Commercial Bank of China (ICBC) signed a $22,160,000 term loan facility agreement with ZESCO Limited — a state-owned power company in Zambia — for the Chipata-Lundazi-Chama 132kV Transmission Project. The borrowing terms of the loan are unknown. The project scope involves the engineering, design, supply, installation, construction, testing, and commissioning of Chipata-Lundazi-Chama 132kV transmission project, which will support the Chipata West 330/132kV substation, Mwasemphangwe 132-66/33kV substation, Lundazi Main 132-66/33kV substation, Egichikeni 123-66/33kV substation, Chama Main 131-66/33kV substation, and Tembew, Emusa, Chasefu, Chanje, Mwimba, and Chikwa 33/0.4kV substations. In October 2022, Zambia’s Minister of Energy reported to Parliament that the substations in Lundazi, Chama, Mwasemphangwe and Egichikeni were under construction. The Minister of Energy also reported that the project’s geo-technical works and topographical surveys for the substations were complete. At that time, the Minister of Energy expected that civil works for all four substations would commence in mid-November 2022 and the project was a whole would be completed by the end of 2024.

Additional details

1. This loan is not included in the SAIS-CARI database of Chinese loan commitments that was released in 2020 and re-released in 2021.

Number of official sources

3

Number of total sources

3