China Lilongwe Grand Holdings Corporation Limited (CLGHC) has announced plans to invest US$100 million in five star hotel and cigarette manufacturing projects in Malawi.
The two projects – to be both located in Lilongwe, are expected to create over 3,000 jobs.
CLGHC chief executive officer Jeff Zhang said his company was among the Chinese companies that attended the first ever Malawi Investment Forum.
He said Malawi has a lot of investment opportunities.
“The two projects will commence soon. We have already done the registration. All we are waiting for is allocation of land by the relevant authorities. But we are ready to bring in our equipment,” said Zhang.
He said the five star hotel will not only comprise of a hotel, but also a recreation centre with a casino, karaoke, basketball and tennis courts and cinema, among other activities.
“This is going to be a one stop recreation centre. We would like to provide Malawians with a facility that will give them fun and excitement they would now only experience outside the country,” he said.
Zhang said the recreation centre will help the country attract more tourists and help in boosting revenue collection.
He said the cigarette plant will help in value addition to Malawi’s tobacco as well as boost farmers’ incomes and the economy.
Zhang said after successful implementation of the two projects, his company will continue to explore other investment opportunities in Malawi such as solar power generation plant.
“We have plans to build in Malawi the largest solar power plant in Africa,” said Zhang.
Minister of industry and trade Joseph Mwanamvekha said China Lilongwe Company is one of the fruits of the MIF and that there are many more companies that have already registered to invest in the country.
He said the ministry will shortly provide the country with the list of companies that are ready to invest in the country following the MIF.
“In 2015, we did the marketing of the country, and this year it is when we will start reaping the fruits from the marketing we did,” said Mwanamvekha.
He further said CLGHC has already started employing people and will soon start construction of the recreation centre.
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