One of Indian transformer manufacturing company has offered to set base in Zambia to service the country and the region.
PME Power Solutions India Limited Chairman Anil Aggarwal indicates that the planned investment in Zambia will gobble One Hundred United States (US) Dollars.
Mr. Aggarwal, who is also Indian Transformer Manufacturers Association President noted that the manufacturing plant in Zambia will create over 6,000 jobs.
He stated that the transformers are special as important as they are eco- friendly in line with the international climate change protocols adding that, they are specially designed as energy saving transformers.
In a statement released to ZANIS in Lusaka today by First Secretary for Press and Tourism at the Zambian Mission in New Delhi, India, Bangwe Naviley, Mr. Aggarwal noted that electricity is expensive to produce which has forced his company to start manufacturing energy saving transformers.
He further observed that each transformer can save K26,000 costs per day.
Mr. Aggarwal made these remarks when Zambia’s High Commissioner to India Judith Kapijimpanga toured the manufacturing plant in Greater Noida, India.
Meanwhile, Zambia’s High Commissioner to India Judith Kapijimpanga, said investing in Zambia will not only create jobs but contribute to Foreign exchange earnings through export of transformers.
Mrs. Kapijimpanga noted that government is looking for investors such as PME Power Solutions India Limited that can carry out value addition to copper within the country as copper cables are core components in the manufacturing process of transformers.
She stated that Zambia remains one of the best investment destinations of choice because of peace and a strong framework that protects private investment.