Chinese Investors Want Land to Develop Sh.1Trillion Industrial Zone Sam Waswa PM Mbabazi receives Yuegong Wang,the CEO of Wande Group at his OPM on Monday Wande Group, a Chinese firm wants Government of Uganda to avail them land to establish of a ten square Kilometer special economic zone for Chinese industrialists, to process raw materials in Uganda and also manufacture goods that are imported by Uganda from China. The Chinese Company’s delegation led by the Chief Executive Officer, Yuegong Wang who have been in the country for a week to assess the investment climate and also meet various Government officials, on Monday met Prime Minister Amama Mbabazi at his Office in Kampala. Mbabazi welcomed the Chinese investors and assured them that Uganda’s policies are very favourable for investment. “Uganda is an emerging market in the region and our economy which is liberal has been growing at a rate of 6.5% for the last 28 years,” Mbabazi said adding that the economy is privatized and this rate of growth has been led by the private sector. The Chinese Company wants to establish a vocational institute in the special economic zone to train Ugandans in practical skills. Their main focus is manufacture of ceramic tiles, establishment of a cement factory and processing of cotton into textiles. PM Mbabazi (seated) shows Wande Group CEO,Yuegong Wang (3rd L) the mineral rich areas of Uganda, (L) PS Ministry of Energy,Kabagambe Kaliisa( Photo by PMPU). Wande group is also interested in iron ore mining in Kanungu and Kabale Districts and are ready to establish a steel plant in Kigezi. They also want to partner with National Housing and Construction Corporation to build housing estates within Kampala. They are currently developing modern cities in Ghana at a cost of US$ 7.3 billion and they have also signed an agreement with Nairobi city council to construct 55,000 housing units. Mbabazi who was flanked by the Permanent Secretary of the Ministry of Energy and Mineral development, Kabagambe Kaliisa said Kampala alone has a deficit of about 600,000 housing units for middle and low income earners. He said the country is now focused on industrialization and a lot of resources have been committed for infrastructure development and electricity generation, adding that the planned standard gauge railway to be constructed by a Chinese company will connect to the iron ore deposits in south western Uganda to address the problem of transport. Mbabazi also said the two cement factories of Hima and Tororo can’t sufficiently meet the demand of the country and the region hence the need for a new factory. The Energy Permanent Secretary said Uganda has a deposit of 3 million tones of limestone in Karamoja for making cement and 460 billion cubic feet of gas in the Albertine region which can be exploited for use in the processing of iron ore.
Posted on: Mon, 11 Aug 2014 16:51:35 +0000
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