Tuesday, December 29, 2009

Eskom needs more money

By Khanyisa Tabata
29 December 20009



Eskom says the massive loan it received for the construction of two power plants is not enough and it needs more money.

In a bid to fund programmes to produce more power and address the country’s electricity crisis, Eskom has signed a loan agreement with five French banks for some 13-billion rands.

However, media reported that this is a drop in the ocean compared to the more than 300-billion rands Eskom needs to fund its expansion project.

South Africans can expect to pay much more for power next year as Eskom is expected to be granted a tariff hike.

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