Zambia power firm CEC, Old Mutual in talks over $205 mln project

Zambia's Copperbelt Energy Corp. (CEC) and Old Mutual (Other OTC: ODMTY - news) said they are in talks over a possible investment by the financial services group in a $205 million power station in Africa's No. 2 copper producer. CEC, the largest supplier of power to mines in the southern African nation, would sell electricity from the hydropower plant expected to start generating electricity in 2018 to its existing clients as well as new customers in neighbouring states. "We have been contacting many partners including Old Mutual with whom we are in talks right now," Humphrey Mulela, the managing director of the 40-megawatt Kabompo Hydropwer project in north-western Zambia, said on Thursday.

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