Zambian envoy woos Chinese investors
ZAMBIA’S Consul General in China, Daniel Chisenga, has called on Guangzhou DongSong Energy Group Company Limited to actualise its investment pledge in Zambia for a fertiliser plant.
Mr Chisenga assured the company that the Consulate was ready to facilitate the process.
He said it would be making an investment in a country that continues to see a rise in Foreign Direct Investment from China in various economic sectors.
This is according to a statement issued by Second Secretary (Trade) at the Consulate General of Zambia in Guangzhou, Angel Lwatula.
“I am grateful that you met the Minister of Agriculture, Michael Katambo, about a year ago on the sidelines of the First Forum on China- Africa Cooperation in Agriculture (FOCAC) held in Sanya City, China”, said Mr. Chisenga during a follow up meeting with Dr. Lv Weidong, chairman of the Chinese firm.
And Dr. Lv Weidong said the Group plans to kick start a market research in Zambia this year as international travel restrictions are expected to be relaxed following the availability of
Covid-19 vaccines.
During the interaction with Mr Katambo in 2019, the Guangzhou DongSong Energy Group expressed interest to establish an industrial park to produce fertiliser and generate power from coal with total investment of US$250 million which would create 2, 500 direct jobs and 5, 000 indirect jobs.
However, the outbreak of Covid-19 in late 2019 derailed the Group’s planned investment in Zambia.
Guangzhou DongSong Energy Group Company Limited has since its establishment 20 years ago invested in several regions within China.
The Group has also invested in Uganda. Its line of investment includes fertilier production, hydro power generation, waste power generation and coal power generation. It is eager to expand its operations in Africa and Zambia is the Group’s next investment destination.
Guangzhou DongSong Energy Group Company Limited is particularly attracted to Zambia as the country has an attractive business environment and is also rich in phosphates and coal deposits, the two raw materials necessary for fertiliser production.