Korean firms look to invest $130 mln in Zambia

LUSAKA (Reuters) – Korean companies will invest $130 million in steel construction, solar power and other sectors of Zambia’s economy, the southern African country’s investment promotion agency said on Friday.

The Zambia Development Agency (ZDA) said Soosung Engineering & Shinil Steel planned to invest in a housing project worth $50 million and Samsung SDS had proposed a $40 million information technology system for the police and fire service.

Another Korean company, Hyosung, was interested in developing a solar power plant valued at $40 million, the ZDA said.

It added that a Korean delegation was in Zambia to look for opportunities in copper and uranium mining, engineering production, steel construction, solar power, information technology (IT) and finance.

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