USD1.5bn worth of Luapula investors court Lungu

Zambias Republican President Edgar Lungu.
Zambias Republican President Edgar Lungu.

The top 5 projects in the northern part of Zambia were presented to President Lungu at State House. The Head of State expressed happiness that the fruits of the Luapula Expo were beginning to manifest.

Africa’s copper hot spot Zambia remains a top investment destination despite all the negative sentiment around it. This week, Honorable  Nickson Chilangwa (Luapula Member of Parliament) led a delegation of the top 5 investors to state house to meet Zambia’s Head of  State Edgar Lungu. Thee investors represented USD1.5billion worth of projects currently being implemented in Luapula province. This follows the Luapula expo held earlier this year that the Southern African nation of Zambia opened its doors to investment in the quest to improve livelihoods in the Northern part of the country.  Among the company’s present at state house were Sun Bird Bio Energy Ltd,  Mansa Sugar, MMRP Manganese, Nhava Bharat Ltd and Kawambwa Sugar Ltd.     

“Your Excellency, we would like to assure you that investments in Luapula has not been affected by the smear campaign that has been going on,” Sun Bird Bio Energy Chairman Rhajan Mahtani said on behalf of the delegation.

President Lungu expressed happiness that the Luapula Expo earlier held was bearing fruit  and that the state will continue to track progress on projects.

Project progress summary

SUN BIRD BIO ENERGY LTD: Invested USD200mn in investment comprising 40Megawatt power plant which is expected to ease pressure of the grid. Sunbird will also manufacture 120million litres of ethanol blended petrol which will save the nation USD100million in fuel imports annually, Board Chairman Rhajan Mahtani told President Edgar Lungu. He informed the President that power purchase agreements were already in place and duly executed.

MANSA SUGAR: Crushing to start next year as commercial operations commence. Total investment of USD50million has been made into ethanol production whose target is to double to a USD100million at completion. Mansa sugar has utilized 5,000 hectares of land and has requested for additional 5,000 hectares which Luapaula Minister Chilangwa confirmed is processing.

KAWAMBWA SUGAR: Aims to produce 1,000 metric tons of sugar annually by 2021, and will hire 500 direct and 3,500 seasonal employees. Outgrower schemes will be out of Chibote and Kawambwa areas.

OTHER INVESTMENTS: Development of a trade route between Katanga and Luapula which will save 300Km of travel for delivery of goods to Dar-es – salaam. This will decongest Kasumbalesa border route. The proposal is currently on the tail end of a bank feasibility study and will commence next year. Other projects include construction of a 1,300 penitentiary at Chembe to be handed over in March 2019.