… Luapula will be next frontier of economy development in Zambia following successful Expo, declares Luapula Minister


A RUSSIAN company has expressed strong intentions of investing in Luapula Province.

Yury Lysenko from the Fund of National Food Resources, a Moscow – based firm disclosed intentions by his company to invest in Luapula Province during a meeting that was attended by Luapula Province Minister Nickson Chilangwa, Nchelenge Member of Parliament Anthony Malama, Zambian businessman Misheck Kaoma and Ambassador Extraordinary and Plepotentiary of the Russian Federation Special Representative to COMESA Konstantin Kozhanov at the Russian embassy in Lusaka yesterday.

Mr. Lysenko who would be on the tour of Luapula together with Mr. Kozhanov and Mr. Kaoma said his company would explore various investment opportunities in the region.

Immediately after Mr. Chilangwa concluded his presentation on investing in Luapula, Mr. Lysenko described the Minister as a passionate ambassador of his Province (Luapula).

He said had a good a reasonable grasp of alternative energy and would like to invest in energy projects that would help industries to flourish.

Mr. Lysenko explained that his company had been involved in alternative energy projects in Switzerland and some Scandinavian countries.

“First let me say you are a passionate Ambassador of your Province Honorable Minister. Our main goal first is infrastructure. We have to build storage sheds, cold rooms and storage facilities to enable us keep our crops and fish. We would like to colaborate with the Food Reserve Agency (FRA) on possibilities of renting some of their storage sheds to us when not in use,” said Mr. Lysenko.

And Mr. Chilangwa said with the so many companies from both within and outside Zambia signing up for investment in Luapula, Luapula was poised to be Zambia’s next frontier of economy development.

Mr. Chilangwa expressed happiness that Russian investors were now considering investing in Zambia and Luapula in particular.

“Luapula Province is on the move. Just after holding the Luapula Expo and Investment Conference which was an oversubscribed event, we have seen so a very good number of investors who are already actualising their projects in various areas of Luapula,” said Mr. Chilangwa.



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