(Ecofin Agency) - Private investors will disburse $700 million to set up a hydroelectric plant in Northern Province this year, Zambian government announced.

Felix Mulati (photo), finance minister, who disclosed the information said funders assured that the project will effectively commence by August this year.

“Among the things we want to do here in Northern Province is in the power sector. One is Kalungwishi hydro power plant with an investment of about US$7 00 million,” he said.

Part of the power produced by the plant will be exported to Tanzania.

Gwladys Johnson Akinocho