FQML MD and CEO Matt Pascall was quoted by Lusaka Times as saying that the firm was in talks with Zesco over the 330kV transmission line of more than 400km, which will cater to the Sentinel mine.
"We are in talks with Zesco for the construction of a power transmission line from Lusaka West in Lusaka up to our new mine Sentinel here in Solwezi. This will cost at least $230 million and projected to be done by June next year," Pascall added.
"It’s really a race against time and we are anxiously waiting for Mr Cyprian Chitundu (Zesco MD) to call us and give us the good news. Otherwise, we are ready to start."
The company had already agreed on terms with Zesco, and they are awaiting a go-ahead from the Zambia Public Procurement Agency (ZPPA) to begin the project works.
Pascall also noted that Zesco had a number of projects to grow power generation capacity in Zambia with expansion to Kariba North Bank.
"But for now, we are the ones who need the power soonest, so we are ready to fund this project upfront. All the $230 million we shall give to do up the power line and we shall recover the money over a period of five years," said Pascall.
The transmission line would pass through and tap power from a 120MW Itezhi-tezhi hydropower plant, a Tata-owned station now under construction, to Kalumbila Minerals.
