UAE firm keen to invest in energy secto

Mwila Nsofu-A leading  renewable energy company, in the United Arab Emirates MASDAR CLEAN ENERGY, has shown interest to invest in Zambia’s Energy sector with intentions to scale up the country’s electricity Generation to two Gigawatts capacity.

 ZAMBIA currently generates ONLY 3 thousand MegaWatts.

Energy Minister PETER KAPALA who disclosed this in an interview with ZNBC News in ABU DHABI that the MASDAR is also looking at working on all the Interconnectors that link ZAMBIA to MALAWI, CONGO, NAMIBIA, TANZANIA and ANGOLA.

Mr. KAPALA said that the Company is also willing to strengthen the ZESCO Power Lines so that they can  have the capacity to TRANSMIT  the power as they generate the 2 GIGAWATTS. 

He said that this the INVESTMENT Zambia and the UPND administration is looking for as this will benefit everyone in the country. 

And, Agriculture Minister, REUBEN MTOLO PHIRI said another investor from DUBAI has also expressed willingness to come to ZAMBIA and invest in the Agriculture Value Chain.

Mr. PHIRI said Government has encouraged the investor to come develop the Agriculture Sector and farm blocks.

He said that a team of experts will be assembled so that the process of  engaging  further with the  investor is done.

Mr. PHIRI said the investor has also said  that they want to come to Zambia to looking at areas strengthen the bilateral relations between Zambia and the United Arab Emirates, Technology  and Knowledge transfer and Investment.

President HAKAINDE HICHILEMA held various bilateral meetings in abu Dhabi among them with the Emirates Investment Authority which was attended by Foreign Affairs and International Cooperation STANELY KAKUBO and Commerce Minister CHIPOKA MULENGA and other senior Government officials.

ZAMBIA is among 192 Countries participating at the World EXPO 2020 in DUBAI and is  Thursday expected to host a NATIONAL DAY which will be graced by President HAKAINDE HICHILEMA and Vice president and ruler of Dubai .

The President has since flown into Dubai for other official engagements.