Saturday, July 20, 2024

Chinese Firms Pledge US$1.4 Billion in Investments in Zambia

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In a significant development for Zambia’s economic prospects, Chinese companies have committed a substantial $1.4 billion investment in the country. This announcement comes following President Hakainde Hichilema’s address to Chinese investors at the Zambia Investment and Tourism Promotion forum held at the Jinggangshan Conference Centre in China.

Albert Halwampa, Director General of the Zambia Development Agency (ZDA), shared details of the significant investment commitments. Pingxiang Huaxu Technology has chosen to collaborate with a local Zambian company in a groundbreaking $800 million venture focused on wind and solar hybrid power generation. This ambitious project encompasses a 1,000-megawatt wind power facility, a 200-megawatt generating station, and the establishment of a wind power equipment and components manufacturing plant.

Additionally, an investment of $450 million has been earmarked for a photovoltaic (PV) solar project in Lusaka city. Mr. Halwampa also revealed that Jiangxi Special Motor Company Limited is allocating $290 million for the manufacturing of lithium batteries in Zambia’s Southern Province.

These substantial investment commitments signify a promising economic collaboration between China and Zambia. They underline President Hichilema’s dedication to promoting trade and investment opportunities for the benefit of the Zambian people.

The Zambia Development Agency (ZDA) has consistently attracted investments, largely attributed to President Hichilema’s unwavering commitment to advancing trade and investment in the country. These investments hold the potential to stimulate economic growth, create job opportunities, and further enhance the economic ties between Zambia and China.

The infusion of capital into various sectors of the Zambian economy reflects the confidence of Chinese investors in the country’s growth potential and stability. As these projects take shape, they are expected to contribute significantly to Zambia’s development and progress, aligning with the nation’s broader economic goals.

23 COMMENTS

  1. Going to the East to collect for the West. Sort out your nkogole kaili…on your tour to the west, they offered you a debt restructure of about 700 million but your tour to the east has yielded an investment almost totalling the debt you struggled so much with your friends from the west. Don’t reinvent the wheel, those before you knew the struggle. Mr President you have some serious catching up to do.

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    • The restructured debt involved amounts that we owe China and so China was very involved in those negotiations. Infact, that is why it took a bit longer. Don’t try and twist facts just so that you can find something negative to say. Had this been from the West – the usual line of the critics would have been ” he has sold the country,…. these are just pledges, he is their puppet” . Now that your narrative doesn’t fit, you are trying the new one “we told him to go there earlier instead of to the West”. This even when he told you a visit to China was already on the cards and all they were waiting for was the formal invite for a state visit.

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    • @Makunku, not sure what you have been reading but this issue has been well publicised. The one twisting facts is you. China is not our problem. The problem with you lot is that you think associating yourselves with people who have mistreated you for centuries is cool. They make you take a debt from a friendly nation and turn it into debt under the hostile IMF and you start dancing nde nde ule, thinking you are geniuses. You can be fooled easily but not some of us.

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    • Why has HH used a private jet on this visit to China? Who owns the private Jet? And what is HH’s kickback for hiring this private Jet? Why is he wasting our money when his office has already wasted money on a second jet because he didnt like the one Lungu left him?

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    • @Makunku, not sure what you have been reading but this issue has been well publicised. The one twisting facts is you. China is not our problem. The problem with you lot is that you think associating yourselves with people who have mistreated you for centuries is cool. They make you take a debt from a friendly nation and turn it into debt under the hostile IMF and you start dancing nde nde ul3, thinking you are geniuses. You can be fo0led easily but not some of us.

  2. He has now realised that the west white man he worships does not care for him. He criticised our relationship with China. Here he is acting like a small desperate boy

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  3. Lusaka times you enjoy speculating about my whereabouts but still moderate my comments. Since you want to know where I am, today I am at the home of the editors mother. Call me your daddy

    • Where’s this sleepy PIG Graphel Musamba? Hurry! Go arrest Kaizar! He has just given you his location but you are busy ironing which talauza you will wear when welcoming HH back. Ati tulo! Where does HH get these kind of policemen from? Kaizar is at the home of the editors mother.

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  4. Good development, production of Lithium batteries in Southern Province, from Lithium mined from there? What are we doing with Nickle, Copper and Uranium mined in North Western and Manganese mined in Luapula?? Exported in raw form instead of creating multiplier industries as has been decided for Southern Province!!

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    • We are talking about establishing value adding industries linked to extracted raw materials, we are NOT talking about electricity generation and distribution!!

  5. This empty tin with his fellow empty suits should just come back! They are just wasting taxpayers money on these trips. What a muppet of a president!!!

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  6. Because of the astute skills of President HH we now have the Chinese, the Americans, the Germans, the French, the rest of EU, the UAE, the Koreans and the Japanese looking to engage with Zambia in business.
    Whatever conflicts or disagreements there are between these countries are not our business.
    Whether they identify themselves as East or West we do not care, and many of you that use those tags don’t even know what it means.
    President HH owes no allegiance to any other country but to the Zambian people and is doing a fantastic job

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    • # Benjamin

      HOW ARE OLD ARE YOU?

      ” Chinese, the Americans, the Germans, the French, the rest of EU, the UAE, the Koreans and the Japanese looking to engage with Zambia in business….”

      ALL THESE NATIONS HAVE BEEN ENGAGING WITH ZAMBIA ALL THE TIME. WHERE HAVE YOU BEEN?

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    • Nothing will come out of these trips. These pledges you are seeing a just a way of keeping the dog around the master. Zambia’s wealth is right here in Zambia. Begging and inferiority complex is what has kept the black man where he is today.

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  7. Just wasting tax payers money on all these nonsensical non fruit bearing trips and in a few days he will be heading to the UNGA with his entire 400 member entourage….going to China to take pictures and fool gullible Zambians….He went to Dubai and took thousands of Pictures for his followers…upto this day no sign of Investment from Saudi Arabia….just that Anthony Bwalya was caught soliciting bribes

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  8. If you spend hours explaining what you have done then you have done then….when you have done something you shut up the things you have done speak for itself…and the Supreme leader Ayatollah Hakainde Hichilema uses graph to explain to his gullible praise singers

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  9. Others were going to Saudi to talk about goats , while………

    This president goes to China to talk about lithium batteries………

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