ZESCO has dismissed assertions that Kariba North Bank Extension Power Company (KNBEPC) is a joint venture with the China Export and Import Bank.
And Zesco business development and corporate affairs director Bessty Phiri has assured that the power company was on schedule to complete the various projects being undertaken around the country.
Giving an update on the countrywide projects, Phiri said KNBEPC was a subsidiary wholly owned by Zesco.
There have been assertions in the industry that Chinese financiers have gotten a stake in the extension project being developed at Kariba, which would add 360 megawatts to the national power electricity.
"Infrastructure works including civil works on power station extension is at 95 per cent complete and installation of both hydro-mechanical and electromechanical support structures and equipment and switchyard is at 65 per cent complete," Phiri said. "The project is still on schedule, completion (November 2013) and commissioning (January 2014) dates remain unchanged. This project is wholly owned by Zesco despite getting the loan facility to finance the Engineering Procurement and Construction (EPC) contract from China Exim Bank and Development Bank of Southern Africa."
OnĀ  Itezhi-tezhi Power Project which is 50 per cent owned by Tata Africa, Phiri said infrastructure works including workers' compound, water and sewerage treatment plants, high voltage substation and excavation of main plant structures were almost complete with 80 per cent of work done.
"Project schedule is on course and delivery time remains the same, that is December 2015 and there have been no changes in financing structure," he said.
Other major generation projects being undertaken countrywide include the Kafue Gorge Lower, in which the government has released US$186 million as part of equity and currently pre-construction enabling works have been completed.