CHiNT still keen on Gwanda project

03 Feb, 2019 - 00:02 0 Views

The Sunday News

SHANGHAI Stock Exchange-listed CHiNT Electric Co has reaffirmed its commitment to seeing through the successful implementation of the 100 Megawatts Gwanda solar project after its local partner, Intratrek Zimbabwe, won a contract dispute in the High Court.

The globally reputable solar energy company has also committed to secure a multi-million dollar advance payment guarantee and to deliver the first quarter of the Gwanda project’s total power output within six months after advance payment.

The $173 million solar project, which is set to be built in Gwanda, Matabeleland South province, appeared to have gone off rails after a contractual dispute between its local partner Intratrek and state power utility, Zimbabwe Power Company (ZPC).

ALL SHARE
The All Share index closed the week in the positive after gaining 0.31 points to close at 157.85 points. PPC added $0,3000 to settle at $2,1000, Old Mutual Limited increased by $0,0546 to close at $10,0000 and Delta traded $0,0344 stronger at $3,1975. Powerspeed also gained $0,0290 to $0,1740 and OK Zimbabwe was $0,0102 firmer at $0,3002.

Gains were offset by losses in Dairibord which lost $0,0167 to settle at $0,1233, Cassava Smartech dropped $0,0087 to close at $1,4983 and African Sun decreased by $0,0079 to close $0,1321. Econet also eased $0,0057 to $1,5000 and StarAfrica traded $0,0002 lower at $0,0110.

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