Zimbabwe has agreed a $455 million, 15-year concession deal with the Africa-focused unit of India’s Jindal Steel for the refurbishment of a 920 MW coal-fired power plant, the energy minister said. The work on six ageing units at the Hwange thermal power station is expected to take four years, July Moyo said during a post-cabinet briefing late on Tuesday. Jindal Africa will recover its investment from revenue generated by electricity sales from the plant.
