A Japanese Construction Company, Fujita Corporation has expressed interest to invest in Zambia’s road infrastructure development under the Public Private Partnership (PPP) model of Financing.
Fujita Corporation Senior Vice President, Tatsuya Ide notes that even when the company is new in Africa, it has seen potential in the continent, describing it as the future of business.
Mr Ide therefore stated plans by the Corporation to expand its area of cooperation with African countries such as Zambia and contribute to the country’s infrastructure development.
ZANIS reports that Mr Ide was speaking in Japan, Tokyo during a meeting with Minister of Infrastructure, Housing and Urban Development, Charles Milupi.
He added that the Corporation is not only the sixth largest construction company in Japan but is also working with African countries such as Ethiopia and Kenya in infrastructure development of roads and buildings.
The Corporation sees vast potential for infrastructure development partnership with African countries like Zambia and we would like to contribute in that vein,” Mr Ide said.
He also made a commitment to use his position as Co-Chair of the Africa Committee of Japan Federation of Corporate Executives to convince many Japanese private sector players to invest in Africa.
Mr Milupi stated that the Zambian government has prioritised the delivery of critical but commercially viable public infrastructure using PPPs as mode of financing.
Mr Milupi said this is because PPPs play a pivotal role in the nation’s development, by offering a range of advantages that benefit both the private and public sectors.
“These advantages encompass not only the physical infrastructure but also the broader socio-economic and development aspect,” Mr Milupi said.
He listed a number of projects that have been identified for implementation under the model such as upgrading of the dual carriageway of 472 kilometers of the Lusaka to Livingstone Road, construction of a new Luangwa bridge, and rehabilitation and upgrading of approximately 45 KM of great East Road to dual from Airport roundabout to Chongwe River Bridge.
The Minister added a housing deficit of about 1.5 million which is expected to increase to three million by 2030 if not addressed.
He there called for private partnership in the mass housing development to help reduce the gap.
He noted the reason why the government is putting in place policies that will not only enable private sector growth but also attract private sector investments in infrastructure in various sectors of the economy.
Mr Milupi later held discussions with JFE Engineering Corporation, which expressed interest in the construction of the new Luangwa bridge.
JFE Engineering Corporation Group Manager for Sales and Sales Department, Atsushi Sugawara noted that learning from its road construction project in India, supports the PPPs model for economic development.
Mr Sugawara is happy with the coming of President Hakainde Hichilema’s visit to Japan as a great move for interpersonal discussions on investment opportunities.
