Tunisian bank loans SA $500m

2007-08-08 20:51

Tunis - The Tunis-based African Development Bank (AfDB) said on Tuesday it lent South Africa $500m to finance a power plant, the biggest loan offered so far by its private sector arm.

"The investment program will add in excess of 8 000 MW to the grid before 2012. The project includes the construction of 1 500 km of 765 kv lines in order to strengthen supply to the Western Cape," the bank said in a statement.

South Africa's power reserve margin - a measure of spare capacity - recently fell to between 8% and 10% from 25% in 2001, the bank added.

Reuters