on ZCCM (EPA:MLZAM)
Maamba Energy Limited Secures Funding for 300 MW Phase II Power Plant Project
ZCCM Investments Holdings Plc (ZCCM-IH) has confirmed the successful arrangement of financing for the 300-Megawatt Phase II power plant project by Maamba Energy Limited (MEL). The financing, announced on July 10, 2024, involves a consortium of lenders providing USD 300 million of the total USD 400 million required for the project.
ZCCM-IH will contribute USD 15 million towards the debt portion of the project with a loan tenure of 10.25 years and a 3.25-year moratorium, at an interest rate of nine per cent per annum. Equity financing of USD 100 million will be provided by NBS and ZCCM-IH in proportion to their MEL shareholding, with NBS contributing USD 65 million and ZCCM-IH contributing USD 35 million.
The project terms offered to ZCCM-IH are on an arm's-length basis, ensuring fairness similar to those offered to independent lenders. The Board of ZCCM-IH has committed to updating the market on the project's development and construction process.
R. P.
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