Government negotiations seeking financers for the electricity interconnection project with Mozambique are well advanced, said Malawi’s Energy Minister Ibrahim Matola.
Last April the two countries signed an agreement on the project which will allow Malawi access to the electric power network that connects most countries in the region.
Cited by the Nyasa Times electronic news service, Matola said his country’s government was currently in advanced negotiations with financers for the project. When this phase is complete the matter will be submitted for consideration by parliament.
“The electricity interconnection agreement with Mozambique will happen, because we are finalising agreements with the entities that will guarantee the financing,” he said.
The project initially counted US$58 million in World Bank financing, of which US$31.75 million was for Malawi and the rest for Mozambique.
The project was nevertheless shelved by the late president Bingu wa Mutharika, who claimed it would only benefit Mozambique. But it was brought back by President Joyce Banda, who considers it fundamental for overcoming Malawi’s current energy crisis. (macauhub)