Energy sector in US$2.1m investment


ALTRON Power Zambia Limited has injected a total of U$S2.1 million into Zambia’s energy sector.

And Mines, Energy and Water Development Minister Christopher Yaluma, who welcomed Altron Power Zambia’s investments, said the investment had come at a time when the region was faced with serious problems of load shedding.

“Our region, Central and Southern Africa, is faced with serious problems of load shedding and as a country we are in need of a solution. Companies such as Altron Power Zambia will contribute in one way or the other to alleviate this problem through solutions that are provided by their engineers.

“Altron Power Zambia will employ local engineers to carry out the projects management and engineering functions.

It also intends to work closely with the mining, energy and water sectors to provide solutions to the present problems Zambia is facing,” Mr Yaluma said.

He said this was because Altron Power had proposals and solutions in the two sectors which could use their experience in projects in other African countries.

He said there was need to explore the energy and water sector in Zambia, adding that more players must come together and create sustainable solutions.

“My Government, has made the development of infrastructure in the energy and water sectors as well as investment in new technologies a priority in its socio economic development agenda,” Mr Yaluma said.

He said Government had ensured that the investment policies encouraged both Zambians and foreigners to have a level field in which great innovations and creativity could thrive.

Mr Yaluma said the Ministry of Energy had also decided to invest in the development of infrastructure and many energy projects.

“Altron Zambia has both local and foreign shareholders. This is the kind of partnership we would, as Government, like to encourage because it leads to long sustainable investment which is in line with citizen’s economic empowerment,” he said.

Mr Yaluma said Altron Power Zambia was planning to establish a respected local company that not only constructed turnkey substation projects but also provided electrical solutions to the Zambian market in terms of engineering solutions through its well-known respected products used in the electricity and water sectors.

Altron country director Ken Muuka said U$S 2.1million would be invested in a Zesco project of constructing the Mwembeshi Zesco substation.

He said the project was expected to provide employment to over 300 locals once implemented this year.

And Altron chairman Neil Kayton said the company was in the process of injecting another U$S 500, 000 in order to obtain an investment licence from the Zambia Development Agency (ZDA).

Mr Kayton said Altron investments would focus on employing Zambian youths.

He said Altron was alive to the fact that government had embarked on extensive hydro and thermal energy projects and improved railway network and water network.

Categorized | Home News

Comments are closed.

Our Sponsor

Jevic Japanese Auto Inspections

Social Widgets powered by