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INDIA INVESTS E7.3 MILLION IN THERMAL POWER PLANT

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MBABANE – India is investing E7.3 billion (US$500 million) in a thermal power station that will boost the country’s economy and also make the kingdom independent.


Last night, the trio of Swaziland Government, Swaziland Electricity Company (SEC) and JSW Energy Group signed a Memorandum of Understanding (MoU) to mark the beginning of the business planning and feasibility study.
Prime Minister Sibusiso Dlamini pioneered the signing of the MoU at Cabinet where Prince Hlangusemphi signed on behalf of government while SEC acting Managing Director Meshack Kunene signed on behalf of the company. Dlamini defined this as a historic moment in the history of the country.


“This in a MoU which, when the subsequent agreements are operationalised, will perhaps rank as the catalyst of all catalysts in the future economic development of our country.”
The thermal power station will use Swaziland coal to generate electricity which it will sell to the sole buyer, SEC.


The premier observed that the project would usher in an exciting transition into Swaziland’s self-sufficiency in electricity generation.
The development is a result of the India Africa Summit which His Majesty King Mswati III attended last year.


Dlamini said it took over eight months for this initiative to yield the anticipated results.


Remedy


“This has not come a day too soon but we must bear in mind that it is not a short-term remedy.
“It will take a number of years to take today’s MoU to the point of thermal power delivery to the Swaziland grid.”


JSW Group Director Sanjay Sagar said he was certain that the proposed investment by his company will serve as a harbinger of foreign direct investment in the country that was now set to become the favoured investment destination in the world.
“I look forward to the day when we will not only provide affordable electricity to Swaziland but will also make this nation a net exporter of electricity to its neighbours, while simultaneously creating job opportunities for its people,” he said.   

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