Zambia and Zimbabwe have shortlisted American, European and Chinese companies to build the Batoka Gorge hydro power plant, the ministry of finance said in statement on Wednesday.
Preparatory studies, including engineering feasibility, for the 2 400 MW power station will be completed by end of the first quarter, it said.
A request for proposals will be launched by April and the final developer will be appointed by September, the statement said.
"The project will be schemed on a Build-Operate-Transfer financing model and will not put any fiscal strain on the government of Zambia and Zimbabwe as no sovereign guarantees will be required," it said.
Those shortlisted are 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.