RioZim Evaluating Bids for Investors in Zimbabwe Power Plant
Zimbabwean miner RioZim Ltd. is evaluating proposals from six companies to participate in its $1.2 billion power project, as the nation enjoys a return of foreign-investor attention under President Emmerson Mnangagwa.
“We are inviting companies as both equity investors and debt providers, we are going for 70 percent debt and 30 percent equity,” Dengu said. RioZim will participate in both structures.
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“The country risk has gone down following the change of guard in Zimbabwe,” Dengu said. “The repeal of the indigenization laws has encouraged investors.”
RioZim, which also has interests in diamond and gold mining, is also planning a 100 megawatt solar project to supply its operations.
The company wants to more than double output at its Murowa diamond mine, although the plan depends on arranging the necessary funding, Chairman Lovemore Chihota said in March.