E120 BILLION INVESTMENT STALLED

MBABANE – A E120 billion power investment that will bring about 35 000 jobs in the country has been stalled by two crucial signatures.

This is an investment that was initiated by Canham Mining International which promised to inject about E120 billion into the country’s economy through the construction of a 5 000 megawatt thermal plant at Mpaka, Lubombo region.

Peter Canham, the Director of Canham Mining International, said they were still waiting for negotiations between the two countries to be finalised before they could start working.

Canham said they could have already started but they have not because they needed to have a cross-border permit to export the electricity to the neighbouring country.

“That is what seems to be stalling us at the moment otherwise operations would have already started,” said Canham.
Canham revealed that they were waiting for the two countries to agree that the electricity would be exported from this country. He said that they could not do anything without the agreement.

Canham also revealed that they had engaged government about the issue. He said they were working well with the Ministry of Natural Resources and Energy on the matter. He said the ministry had updated them that it had already been in contact with the director general of the Department of Energy in the neighbouring country.

“We once went to enquire about the project in South Africa and we were told that there was nothing we could do without the two ministers signing an agreement,” said Canham.

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