Indian farmers plan Zambia investment
New Delhi, August 9, 2010
Indian commercial farmers plan to invest in a new model farm in Zambia, according to the government, which seeks to diversify the economy by promoting agriculture as an alternative to copper and cobalt mining.
Zambia's ministry of foreign affairs said Indian farmers were interested in investing in the 155,000-hectare Nansanga model farm bloc, where the government had built roads and dams to attract investors to grow export crops.
'Indian commercial farmers, mostly specialising in sugar production, are expected in Zambia in December 2010 to explore prospects of investing in Nansanga farm bloc,' the ministry of foreign affairs said in a statement.
'The expression of interest follows a business meeting between a Zambian investment promotion delegation and the Indian business community and commercial farmers in the commercial city of Mumbai.'
The global financial crisis hit Zambia's copper exports, and the government has said its economy cannot continue to rely on the copper industry.
Official data shows that as of November 2009, mining accounted for almost 90 per cent of exports from Zambia, Africa's top copper producer.
A government minister said in March Zambia had spent more than 100 billion Zambian kwacha ($20.6 million) on the electrification of the model farm and building of other infrastructure.
Zambia, previously a net importer of maize, has turned around its agricultural sector to become a net exporter following a government programme to provide subsidised pesticides and seed to small farmers, moves also aimed at improving security of food supplies.
The southern African country produced 2.7 million tonnes of maize in the 2009/2010 season, exceeding last season's harvest of 1.9 million tonnes and providing a surplus of 1.1 million tonnes.
Zambia planned to export some maize to Namibia, Zimbabwe and the Democratic Republic of Congo (DRC), which had expressed interest in buying maize.-Reuters
More Miscellaneous Stories
- Girl, 9, dies after fall from 8th floor in Abu Dhabi
- Lebanese café brand opens Dubai outlet
- Bahrain poultry firm told to step up safety
- Customer dies in Bahrain cafe brawl
- Bahraini boys hurt while planting bombs
- Philips, Ericsson launch LED street lighting
- DuBiotech to set up first Halal safety lab
- Jotun to supply coatings for Makkah Station
- Raytheon wins $655m Kuwait Patriot deal
- Alwaleed Foundation lights up 3 Saudi villages
- Poultry farms strike may trigger shortages in Bahrain
- Oman seals Victoria food security pact
- Saudi woman, 80, donates $133m to charity
- New Saudi clamp on energy drinks
- Outrage follows Bahrain killer bomb
- Improvised explosive device used in Bahrain attack
- 3 policemen killed in Bahrain blast
- Dammam-Al Ahsa train service starts
- Egypt wheat supplies enough to last until June
- Expat killed at Saudi workers' holding facility
- 80 global speakers for Doha summit on family
- Restaurant runs up $47,555 phone bill in 4 days
- NZ minister to visit Gulf states
- Public-private tie-ups ‘vital for agri growth’
- China firm wins solar power project in Amman
- 15,000 attend Bahrain garden show
- Omani firms shine at top food expo
- Bahrain to set up national food company
- Dozens hurt in gas leak at plant near Doha
- Twelve dead in Qatar restaurant gas explosion