ICVL to build power plant

The Star Early Edition - - BUSINESS REPORT INTERNATIONAL -

IN­TER­NA­TIONAL Coal Ven­tures (ICVL), the In­dian group that bought Rio Tinto Group’s coal-min­ing as­sets in Mozam­bique for $50 mil­lion (R555m) this year, plans to build a power plant in the coun­try. The coal-fired fa­cil­ity would be de­vel­oped “very soon”, Ajay Mathur, the chief ex­ec­u­tive, said on Mon­day, with­out giv­ing de­tails of its size. ICVL was al­ready ex­port­ing cok­ing coal for steel­mak­ing from Mozam­bique, he said. The power plant will use “some of the ther­mal coal and waste prod­uct to gen­er­ate power lo­cally”. The planned plant at the Benga as­set will be one of a num­ber of power projects pro­posed for the north­west­ern prov­ince of Tete, home to the coun­try’s rich­est coal de­posits and the 2 075 megawatt Ca­hora Bassa dam and hy­dro­elec­tric plant, which also sup­plies South Africa, Zim­babwe and Zam­bia. – Bloomberg

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