A GROUP of companies, AGRAWAL, from GOA State, India, plans to build a ONE Hundred Mega Watt capacity solar panel manufacturing facility in Zambia.
Group Chairman KRISHNAKUMAR AGRAWAL says the project would cost FIVE Million US Dollars private capital investment.
He says the exercise might take SIX months if the company completes the registration and legal process as well as getting satisfaction with the market demand.
Mr. AGRAWAL says the project would result in jobs creation and skills transfer to the Zambian populace especially youths, for the company founded in 1950, currently running a SIXTY mega watt solar panel manufacturing facility in GOA.
He says the company has special skills in executing OFF- grid and ON- grid projects for open access market while the rest of the solar energy is sold to government in addition to large scale solar pumps.
This came to light when Zambia’s High Commissioner to India JUDITH KAPIJIMPANGA toured the solar manufacturing company in the Indian State of GOA, TWO Thousand kilometres away from the Indian Capital, NEW DELHI.
And Mrs. KAPIJIMPANGA says GOA State has determined investors such as Mr. NARAYAN BANDEKAR who built a pharmaceutical manufacturing plant at the Lusaka South Multi Facility -MFEZ and SAFAL Managing Director PANKAJ JAIN, running a manganese factory in SERENJE.
She says Zambia has EIGHT months of continuous sunshine, progressive banking system and a strong legal framework that supports private sector investment.
Mrs. KAPIJIMPANGA says the Mission recorded three companies in the first quarter of the year 2019 that started actualising investment in Zambia among them PRASAD Seeds, VAGMI Cottons and OM Rollers and Smelters with combined investment worth over ONE Hundred Million US Dollars.
She says more investment will increase total investment from India above the current EIGHT Billion US Dollars.
This is contained in a statement released by First Secretary Press and Tourism at the Zambian Mission in India, BANGWE NAVILEY.