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Eskom: We'll be able to repay R19.6bn China bank loan

The power utility has signed a R19.6 billion loan agreement with the China Development Bank to help finance the Medupi coal power plant.

Picture: EWN

JOHANNESBURG - Eskom says it's put a number of measures in place to increase revenue and ensure it can pay back a multi-billion rand loan.

On Thursday Eskom acting chief executive Johnny Dladla announced that the power utility has signed a R19.6 billion loan agreement with the China Development Bank to help finance the Medupi coal power plant.

Eskom's Khulu Phasiwe says they have 15 years to pay back the loan.

“We currently are sitting in a very good situation where we have excess capacity. We are engaging with South African industry but also going into the SADC market. All of these efforts are hopefully going to assist us while generating more revenue to repay this loan.”

(Edited by Zinhle Nkosi)