29 January 2013

Zambia: Indian Investors Eye Southern Province

A CONSORTIUM of Indian investors is interested in investing in various sectors of the Southern Province at a cost of about US$10 billion.

Southern Province Permanent Secretary, Chileshe Mulenga said in an interview yesterday that the investors who come from different companies were interested in investing in real estate, agriculture, mining, steel works and putting up a cement plant.

He said the investors had already been to Livingstone and Choma to explore investment opportunities.

Dr Mulenga said the investors had already engaged the Choma Municipal Council on the possibility of setting up a shopping mall in the new provincial capital of Southern Province.

"As you may be aware, Zambia has a housing deficit of nearly 1.4 million units and the interest by our colleagues to invest in Southern Province and Choma in particular is most welcome.

"They have capacity to mobilise US$10 billion of investment in various projects in Southern Province," he said.

Dr Mulenga said Fallsway Timbers Limited group of companies' chairperson Shamji Vora was coordinating the investment project.

Meanwhile, Dr Mulenga said the Ministry of Lands, Natural Resources, and Environmental Protection would provide about 1, 000 hectres of land within Dambwa Forestry for the construction of a modern stadium, David Livingstone University, a Multi-Facility Economic Zone (MFEZ) and other developmental projects in the tourist capital.

He said the stadium would be given about 20 hectares while David Livingstone University would have about 200 hectares.

The MFEZ would have 100 hectares while the council would apportion the remaining portion for other development projects such commercial and residential plots.

"By February 10, 2013, the Ministry of Lands may issue of Statutory Instrument and formally hand over the land to the council for development," he said.

He said by the end of June this year all roads in Livingstone would be completed in readiness for the United Nations World Tourism Organisation (UNWTO) General Assembly.

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