THE Development Bank of Southern Africa is lending
Tanzania $314-million for two power plants, South Africa's treasury said on
Thursday, as the east African nation country looks to tap more of its abundant
gas reserves.The State-owned lender has underwritten $227-million
for the construction of the Kilwa Power plant and another $87-million for a 240
MW gas-fired plant at Kinyerezi, the treasury said.
Despite natural gas reserves estimated at more than
41-trillion cubic feet, Tanzania experiences frequent power outages as it is
heavily reliant on hydro-power capacity and fuel-run generators.
The country's average power demand stands at 750 MW
per day and peaks at around 850 MW.
The state-owned power utility burns fuel worth more
than double the amount of money it receives as daily revenue, and is now racing
to build infrastructure to tap a gas potential that is seen equal to some
Middle East producers.
Last month, the east African country signed a
$692.7-million contract for the construction of a 400 kV transmission line with
a Chinese company.
China is also financing a $1.2-billion 532 km
natural gas pipeline from the southeast of the country to the commercial
capital Dar es Salaam.
The Development Bank of Southern Africa is also
active in Angola, where it is financing around $146-million of a $700-million
facility it is helping to arrange for two Angolan national roads.
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