Seychelles firm to invest US$16 million in shipbuilding yard in Zambia
A firm from Seychelles plans to invest about 16 million U.S. dollars to set up a shipbuilding yard at a port in northern Zambia, a government official said on Friday.
Northern Province Minister Brian Mundubile said Cumana Holdings Engineers decided to undertake the project after participating in the Northern Province Expo last November.
The shipbuilding investment at Mpulungu Harbor could create some 100 permanent jobs, the Zambian minister said in a statement.
The firm, which is expected to start the project in April this year, intends to take advantage of about 10 million people living near the Tanganyika region, which is close to Tanzania, Burundi and the Democratic Republic of Congo, to boost trade, he said.
Dhananjay Dattar, a representative from the Seychelles firm, said Cumana intends to build and operate two ships on Lake Tanganyika to service the Great Lake Region and also build other ships for marine patrols. Enditem