South Africa's Eskom to raise more debt

South Africa's government has approved a support package for state-run power utility Eskom, which will include the company raising additional debt and receiving an equity injection from the state. Eskom has huge financial problems because its costs are running ahead of its revenues.
"Eskom is facing significant challenges that threaten its sustainability," the Treasury said in a statement on Sunday.
"Eskom will be raising additional debt in the region of 50 billion rand ($4.5 billion), over and above its original plan of 200 billion rand," the statement added.
Eskom, which supplies virtually all the power for Africa's most advanced economy, is scrambling to keep the lights on and maintain its own liquidity by building new stations, while trying to maintain older ones.