Zambia and Zimbabwe have planned to begin building a 2,400 MW Batoka Gorge hydro power plant in 2020, according to a company owned by both countries’ governments.

As Reuters reports, the Zambezi River Authority (ZRA) said that this initiative will consist of construction of a dam, powerhouses, roads, transmission infrastructure and houses in both Zambia and Zimbabwe.

The ZRA also said that feasibility studies have almost come to a close and a developer should soon be chosen, adding: “Once engaged, the developer is expected to commence works in the last quarter of 2020.”

In a statement, Zambia’s ministry of finance revealed that the ZRA had short-listed U.S, European and Chinese companies to build the Batoka Gorge hydro power plant back in February.

The short-listed companies form part of a consortium of General Electric and Power Construction Corporation of China, Salini Impregilo of Italy and a joint venture of Chinese firms Three Gorges Corporation, China International and Water Electric Corporation and China Gezhouba Group Company Ltd.

The financing used for the project will be through a Build-Operate-Transfer model and no fiscal strain will be placed on the governments as no sovereign guarantees will be required.