China Devel­op­ment Bank fi­nance for Medupi power plant

Public Sector Manager - - In Other News -

Eskom has signed a US$1.5 bil­lion loan agree­ment with the China Devel­op­ment Bank.

The R19.6 bil­lion fa­cil­ity will help fi­nance the Medupi power plant in Lim­popo.

“We are pleased to see the con­tin­u­a­tion of the jour­ney of co­op­er­a­tion that we started with our Chi­nese part­ners last year,” said Eskom's In­terim Group Chief Ex­ec­u­tive Johnny Dladla.

“The con­clu­sion of this sec­ond loan agree­ment con­tin­ues to demon­strate fi­nan­cial mar­kets' con­fi­dence in Eskom and South Africa, not­with­stand­ing the chal­leng­ing mar­ket con­di­tions.”

“This loan will also aid us in en­sur­ing that we com­plete the Medupi project and en­sure se­cu­rity of en­ergy sup­ply.”

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