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Malawi sells forty projects at forum

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Malawian companies have put on the table 41 projects worth US$3.3 billion for prospective joint ventures investments with international investors at the first Malawi Investment Forum (MIF) which started in Lilongwe yesterday.

The Ministry of Industry and Trade and the Malawi Investment and Trade Centre (MITC) have targeted US$16 billion in committed investment projects from both local and international investors by the end of the forum today.

The projects proposed by Malawi companies, which have been outlined in an MIF hand book available at the forum, covers areas including agriculture, tourism, energy, manufacturing, finance and infrastructure.

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The handbook indicates that the agriculture sector is marketing 16 projects which include fisheries, starch and liquid glucose processing and rice production and processing, among others.

In the tourism sector, there are five projects which are being marketed and they include a US$300 million Cape Maclear resort project, Country Wide Hotels, Byte Towers, Sani Beach Holiday resorts and Chilembwe Lodge Limited.

The manufacturing sector is marketing nine projects which include ceramics, cement, rice milling, oil and tin manufacturing while in energy sector, which has the largest capital, four projects are being marketed.

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The energy projects, with capital cost of between US$153 million and US$1.2 billion, has projects such as Chasomba Hydro Power Project in Kasungu, Chizuma Hydro power in Nkhotakota, Kam’mwamba Coal Fired Power Generation in Neno and Liwonde Power Generation in Machinga.

It also includes a liquid fuels plant estimated to produce 128.5 Megawatts.

Under the infrastructure sector, Malawi is marketing six projects which include the Kanengo Northgate Project, an airport city at Kamuzu International Airport and construction of new water source on the Shire River for Blantyre city.

One project is being marketed under the financial sector namely Green Roof Finance. The project is for a financial organisation institution that aims to become a deposit taking institution.

The MIF which was officially opened by President Peter Mutharika, has attracted over 200 delegates from 31 countries which include China, USA, UK and South Arabia just to mention a few.

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