India to extend $310 mn loan for Zimbabwe power plant

India on Saturday announced that it would extend a $310 million loan to Zimbabwe to finance a rehabilitation project for a thermal power plant that would entail upgrading the station and extending its lifespan.

The decision was taken during a meeting between Vice President M Venkaiah Naidu and Zimbabwe President Emmerson Mnangagwa and delegation-level talks between senior officials of the two countries here, TS Tirumurti, Secretary (Economic Relations) in the Ministry of External Affairs, said while briefing media on the deliberations.

Hwange is Zimbabwe's second biggest power plant with an installed capacity of 920 MW.

India will also extend additional funds of $23 million for the Bulawayo thermal power plant and $19.5 million for the Deka pumping and water intake system in Zimbabwe, Tirumurti said.

A fund of $2.9 million will also be extended to upgrade the Indo-Zim Technology Centre, which India had gifted to the African country, he said.

Naidu arrived here Friday night on the second leg of his six-day three-nation tour to Africa, which aims at deepening India's strategic cooperation with Botswana, Zimbabwe and Malawi.