eskom expands

Eskom has signed a 20-year loan with the African Development Bank of about R5billion to support its long-awaited power expansion programme, the state-owned power utility said yesterday.

Eskom has signed a 20-year loan with the African Development Bank of about R5billion to support its long-awaited power expansion programme, the state-owned power utility said yesterday.

In its bid to reverse years of under-investment in power, and to ease chronic power shortages, Eskom plans to spend a total of about R343 billion over five years on new power plants.

"This loan will make sure that infrastructure development is going on in Africa regardless of the financial crisis," Eskom's CE Jacob Maroga said yesterday.

Eskom has been rationing electricity since January. - Reuters

X