Maamba Collieries Limited (MCL), a subsidiary of Nava Bharat Ventures Limited, is set to double its power generation capacity from 300 megawatts (MW) to 600 MW. This expansion, which falls under Phase II of MCL’s development plan, will involve the addition of 2 x 150MW (300MW) power units.
During a board meeting held on 29th May, the Board of Directors of Nava Bharat Ventures took note of the proposal and approved the equity commitment required for this expansion. The project’s estimated cost is USD 400 million, with an equity commitment of USD 100 million. This equity will be contributed by Nava Bharat Singapore Pte Ltd (NBS), which will provide USD 65 million, and ZCCM Investment Holdings Plc (ZCCH-IH), which will contribute USD 35 million.
The Phase II expansion is particularly noteworthy for its aggressive project implementation timeline, which aims for completion within 24 months. This rapid development is expected to significantly alleviate Zambia’s energy demand and improve the country’s energy balancing.
NBS plans to fund its share of the equity commitment from the distributions envisaged from the existing Phase-I project of MCL. The Board of Nava Bharat Ventures carefully considered this plan and subsequently approved NBS’s equity commitment of USD 65 million to MCL.
This expansion project underscores MCL’s ongoing commitment to supporting Zambia’s energy needs and contributing to the nation’s overall economic development.
Things very good news. Keep it up maamba collieries and nava barat.
Coal plants are biggest polluters with significant damage to the environment. In Europe, America, and South Africa these have been closed. But here you are praising yourself for increasing output. And you are wondering why the Southern part of Zambia is the most affected by climate change. CLOSE THAT DAMN THING FOR THE SAKE OF OUR ENVIRONMENT.
@Lingustic
80% of South Africa power is generated from coal. If they closed the coal plants the entire south african economy would collapse. Their nuclear power plant (Koeberg Nuclear Power Station) only generates 1,940 MW.
Just the Kusile Coal Power plant alone generates 4800MW and could power the entire Zambia including the mines.
@Lingustic
If you know nothing about a subject, avoid such comments and learn from others. Coal is one of the best sources of primary energy available.
……….
Only africans are that du.ll to be sitting on a large coal field ……..
While they have power deficits………
They can not see the benifits of owning a mordern coal power station…….
And let foringners own it………
It’s an opportunity for you to invest, what’s stopping you?
@ Speak
I agree with you on this one, we’re a cursed continent. Another challenge is that despite this addition we will continue having blackouts, that’s Zambia for us.
This is good news. We really need this developed pronto! Rain cannot be relied upon that much any longer.
GRZ should buy a bigger stake in this company through ZCCM. How do you let a strategic sector like power generation in the hands of private company?