High prospects for US$300m hotel project
The Malawi Investment Forum (MIF) that ended yesterday in Lilongwe has unlocked several opportunities that have potential to actualise the US$300 million (about K130 billion) Mangochi tourism project.
Some promoters are anticipating to establish the multimillion dollar resort in Mangochi that includes a 130-room five-star hotel, holiday homes, amphitheatre, conference centre, casino, marine park with a museum, golf course among others.
One of the promoters of the project Bright Malopa said on the sidelines of the conference yesterday that a number of companies have approached the project promoters for partnerships and financing.
“There has been an overwhelming response from the conference and we will be in serious discussions with these companies upon assessing their proposals and we expect that in the next few months we will be talking of implementation plan,” said Malopa.
He said that a company from Nigeria wants to construct the five -star hotel as part of the project with others expressing interest to operate the hotel while a company from Dubai intends to construct an airport that will facilitate air transport to the resort.
Minister of Industry and Trade, Joseph Manamvekha said in an interview that tourism is among the sectors that have attracted a number of interests but said it was premature to disclose details of the companies that have expressed interests to invest.
Apart from Malopa, the other promoter is Martin Benkenstein. The project is being supported by FDH Bank and CDH Investment Bank among others that are offering a wide range of services at its proposal stage.
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