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2 Korean firms to invest in Zambia

ZAMBIA’S High Commissioner to South Africa Emmanuel Mwamba (centre) flanked by representatives from KEPCO KPS Jason Lee (left) and Life is Good International Dow Lee after a business meeting in Pretoria on Thursday. The two companies are prospecting to invest in the mining and energy sectors in Zambia. PICTURE: COURTESY ZAMBIAN MISSION.

CAROLINE KALOMBE, Lusaka
TWO Korean companies LG International and KEPCO KPS are interested in investing in Zambia’s mining and energy sectors as soon as feasibility studies on the viability of the market are concluded.
Representatives from KEPCO KPS and LG International disclosed their interests when they met Zambia’s High Commissioner-designate to South Africa Emmanuel Mwamba in Pretoria yesterday.
KEPCO KPS chief representative Jason Lee said his company is ready to meet with relevant officials who would provide it with information on how to enter the Zambian market before making any formal proposals.
Mr Lee said his company has experience in thermal, nuclear, hydro and solar power plant maintenance technology and that it has previously undertaken projects in Madagascar, India, Uruguay, Pakistan, Australia, Philippines Mexico, Bangladesh, Kenya and Morocco and has been working with South Africa’s power utility company, ESCO since 2008.
“We are ready to travel to Zambia anytime as part of our study before we can confidently make a formal proposal to enter Zambia,” Mr. Lee said.
And LG International, Johannesburg office, chief representative Dow Lee said his company has identified various areas of interest including copper production, coal and gold mining.
Mr Lee his company was involved in a wide range of projects and that LG International trades in products used in processing gold, and believes statistics show that Zambia holds good potential for a good market for their products.
He, however, was concerned with the falling copper prices which he noted were a constraint to further exploration of the market and that his company which understand the Zambian market would visit the country to establish opportunities in investing in the mining sector.
LG International, which is a sister company to LG Electronics, is into natural resource development and industrial infrastructure business in emerging countries with growth potential.
Mr Mwamba advised LG International to look at the current low copper prices as an opportunity in itself. Mr. Mwamba pointed out that prudent investors in the commodity market opt to acquire assets when prices are low because they understand that the commodity price fluctuated.



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