South African state utility Eskom has approved an increase in its 5-year spending on new projects to 150 billion rand from 97 billion rand, it said on Thursday.
The investment is meant to meet the electricity needs generated by South Africa's rapid economic growth, and will nearly double the megawatts (MW) of electricity that Eskom had previously intended, the company said in a statement.
Under the revised plan, which would cover the period from 1 April 2007 to 2011/12, Eskom will now deliver an additional 22,000 megawatts (MW) against the previous target of 12,500 MW.
Generation projects will take up about 72 percent of the 150 billion rand, and transmission projects about 12 percent.
The rest of the funds will be used for improvements to Eskom's distribution network, coal supply lines and other projects to diversify the firm's energy mix, Eskom said
Read more at Reuters South Africa
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