Maravi

(DAILY MAIL) $28m to power Chambishi

$28m to power Chambishi
By CHARLES MUSONDA

ZESCO Limited and China Non-Ferrous Metal Mining Group Corporation Limited (CNMC) have signed an agreement for the supply of power to the proposed Chambishi Multi Facility Economic Zone (MFEZ). Zesco Limited managing director, Rhodnie Sisala, said at the signing ceremony in Lusaka yesterday that US$27.8 million would be invested in construction of the power supply infrastructure.

Mr Sisala said the US$800 million Chinese investment in the MFEZ would require 110 mega watts of power from Zesco’s 330 kV system.

“It is planned that construction of the power supply infrastructure will be completed in the next 12 months to enable the multi facility economic zone to start operating by August next year,” Mr Sisala said.

And CNMC vice chairperson, Zou Xia, said his company first invested in Zambia in 1998 when it established the Non-Ferrous China Africa Mine in Chambishi.

‘’To expand our cooperation scale, our company signed another letter of intent with the Ministry of Commerce in January 2006 after the Beijing-Africa summit, and the two governments agreed to build a Chinese economic and trade zone.

“This decision encouraged more Chinese enterprises to invest or expand their investment in Zambia.

This will create more job opportunities for local residents and strengthen our friendship,” Mr Zou said.

He said construction of the MFEZ would facilitate development of many industries like mechanic, foodstuffs, electrical instruments and textiles.

Earlier, Chinese Ambassador to Zambia, Li Qiangmin, said in recent years, economic and trade cooperation between China and Zambia had continued to expand and deepen.

“Chinese enterprises are making a robust investment in Zambia.

The investment climate here is getting better and better.

The Chinese Government encourages and supports well-established Chinese businesses to invest and operate in the economic cooperation zone to contribute to economic development and social progress in Zambia,” Mr Li said.

He described the Zesco-CNMC agreement as a realisation of the agreement between Presidents Mwanawasa and Hu Jintao for the MFEZ.

Labels: CNMC, DAILY MAIL, MFEZ, ZESCO

posted by MrK @ 7:16 PM