ONE INDIAS BIGGEST INVESTORS EXPECTED IN ZAMBIA

Posted on : 31-08-2017 | Back | Print

ONE INDIA'S BIGGEST INVESTORS IN INFRASTRUCTURE & ENERGY ARRIVE IN ZAMBIA NEXT WEEK

New Delhi, August 31, 2017 - ONE of India’s biggest investors in infrastructure, GMR Group, is next week expected in Zambia to explore investment opportunities in energy and infrastructure.

GMR Group, owners of Delhi Airport in New Delhi, India, said it would spend 100 Million US Dollars initial investment in either energy or airport construction.

Group Director Rao Kotih said Zambia offered an economically viable opportunity for investment in energy because of demand resulting from a power deficit coupled with the attractive cost reflective tariffs.

Speaking when he called on Zambia’s High Commissioner to India Judith Kapijimpanga, Mr. Kotih said GMR Group was also interested in investing in construction of airports in Zambia to make it a regional aviation hub.

He said the group had been invited by Zambia Chambers of Commerce and Industry (ZACCI) adding that the delegation would be in Zambia for 5 days.

And Mrs. Kapijimpanga said she was happy to note that the removal of subsidies on electricity to make them cost reflective was attracting investors.

She said GMR and other companies should respond to the call by Indian Prime Minister Narendra Modi who was encouraging them to look to Africa for greater investment opportunities.

Mrs. Kapijimpanga said Zambia remained a peaceful country after changing Presidents six times without conflict adding that it had enough skilled man power that the group could take advantage of.

She also said Government was expanding Kenneth Kaunda International Airport, Harry Mwaanga Nkumbula, and was constructing a new airport in Ndola to improve aviation services in the country.

In the picture:

India's GMR Group Director Rao Kotih (left) listens to Zambia’s High Commissioner to India Judith Kapijimpanga (left) at the Zambian Mission in New Delhi, India.



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