16 April 2015

Zambia: U.S.$80 Million Bridge Deal on Cards

GOVERNMENT is expected to seal an US$80 million trade deal with a world renowned United States of America (USA) bridge company, Acrow Bridge.

Acrow Bridge specialises in prefabricated modular steel bridges solutions for permanent, temporal and emergency use.

Zambian Ambassador to the United States Palan Mulonda said Acrow Bridges was in the process of concluding a trade deal with Zambian Government officials.

Mr Mulonda said in an interview in Washington DC yesterday that Acrow Bridges was a renowned bridge construction company in the world and would rollout more than 140 bridges in Zambia.

He said another American firm, AGCO would launch a demonstrating farm at the cost $10 million in Lusaka.

"We have a number of companies expressing interest in investing in Zambia and some are in the exploring stage, while others have already set up investment with plans for further expansion. We have seen in the recent past an acquisition of ZAMANITA by Cargil which is an American company at the cost $25.7 million," he said.

Mr Mulonda said this indicated that the business environment in Zambia was still attractive for investment.

"As I speak, end of May we have AGCO another American company launching a demonstrating farm in Lusaka behind the Kenneth Kaunda International Airport and this will gobble Up $10 million," he said.

This farm would help grow Zambia's agro sector and build capacity.

He explained that running along with AGCO was GSI, a firm that would provide grain storage solutions and reduce post-harvest losses significantly.

"They two are coming on board and we should be seeing two pilot projects commencing soon in Eastern and Central provinces of Zambia that will be another huge investment from the American space," he said.

The company would deal with different equipment ranging from smallholder, emerging and commercial farmers.

A trade mission to Zambia by the American companies would be undertaken from June 1 to 5, this year aimed at attracting American investment in the country.

The trade mission would target two countries namely, Zambia and Zimbabwe.

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