Russian firm to invest in energy sector
Published On October 31, 2017 » 1127 Views» By Davies M.M Chanda » Business, Stories
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. Chilangwa

. Chilangwa

A RUSSIAN firm, Fund of National Food Resources,has expressed interest to invest in alternative sources of energy in Luapula Province.
Luapula Province Minister, Nickson Nickson Chilangwa Nickson Chilangwa Nickson Chilangwaw said the  Moscow City based company has expressed interest to invest in alternative energy sources in the province.
Mr Chilangwa said following the expo which  was recently conducted in the province, the company has  expressed interest  to help  industrialise the province through the provision of alternative sources of energy.
Company representative Yury Lysenko disclosed the intention during meeting at the Russian embassy with the Minister in Lusaka last week.
Mr Lysenko said the firm had a grasp of alternative energy and would like to invest in energy projects that would help industries to grow in the province.
He explained that his company had been involved in alternative energy projects in Switzerland and some Scandinavian countries.
Mr Lysenko would be on the tour of Luapula with staff from his firm to explore various investment opportunities in the region.
Mr Chilangwa said with the number of companies from both within and outside Zambia signing up for investment in Luapula, the province was poised to be the country’s next frontier of economic development.
Mr. Chilangwa expressed happiness that Russian investors were now considering investing in Zambia and Luapula in particular.
“Luapula Province is on the move. Just after holding the Luapula Expo and Investment Conference which was an oversubscribed event, we have seen so a very good number of investors who are already actualising their projects in various areas of Luapula,” Mr Chilangwa said.

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