Q FM Africa's Modern Radio
Rao Kotih and Judith Kabijimpanga
One of India’s biggest investors in infrastructure, GMR Group, has announced that it will spend US$100 million initial investment in either the energy sector or airport construction in Zambia.
GMR Group, who are also owners of Delhi Airport in New Delhi, India, are expected in Zambia next week to explore investment opportunities in energy and infrastructure.
Group Director Rao Kotih says Zambia offers 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. Koith says GMR Group is also interested in investing in construction of airports in Zambia to make it a regional aviation hub.
He says the group has been invited by Zambia Chambers of Commerce and Industry (ZACCI) and that the delegation will be in Zambia for 5 days.
And Mrs. Kapijimpanga says she is happy to note that the removal of subsidies on electricity to make them cost reflective is now attracting investors.
She says Government is expanding Kenneth Kaunda International Airport, Harry Mwaanga Nkumbula, and constructing a new airport in Ndola to improve aviation services in the country.
This is contained in a statement made available by First Secretary Press and Tourism at the Zambian Mission in New Delhi, India, Bangwe Naviley.