Old Mutual Zimbabwe commissions $5.7 million power plant


0

Financial services group, Old Mutual Zimbabwe yesterday commissioned a $5.7 million mini hydro power plant in Chipinge district, southeast of Zimbabwe.

The 1.6MW plant has capacity to meet a third of Chipinge’s 5MW power demand.

Commissioning the plant, group chief executive Jonas Mushosho said the project reflected Old Mutual’s interest to invest in the country’s infrastructure.

Construction of the plant commenced in November 2014.

Finance Minister Patrick Chinamasa who was also present at the commissioning said government was willing to offer tax incentives to private players who would invest in energy and infrastructure development.

“We will continue to enhance our incentives in order to make Zimbabwe an attractive investment destination,” he said.

“There are various investments incentives that can be given to investors in strategic sectors such as energy. These include tax holidays, national project status, exemption from payment of withholding tax and cost effective tariffs”. – The Source

(73 VIEWS)

Don't be shellfish... Please SHAREShare on Google+
Google+
Tweet about this on Twitter
Twitter
Share on Facebook
Facebook
Share on LinkedIn
Linkedin
Email this to someone
email
Print this page
Print

Like it? Share with your friends!

0
The Insider

The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

0 Comments

Your email address will not be published. Required fields are marked *