from ARNOLD MULENGA in Lusaka, Zambia
Zambia Bureau
LUSAKA, (CAJ News) – CHINA’S Zhejiang Tsingshan Steel Net Electronic Technology (ZTSNET) plans to establish an industrial park, copper mining and smelting facility as well as a solar power plant in Zambia.
In the longer term, the Chinese stainless steel firm aims to diversify and establish a bank in Zambia.
ZTSNET officials are scheduled to visit Zambia before the end of 2025 to advance preparatory engagements for project commencement.
Officials disclosed the plans as Ivan Zyuulu, Ambassador of Zambia to China, met ZTSNET chairman, Zhang Jiawei, in Wenzhou, Zhejiang province.
The embassy noted the visit underscored Zambia’s continued pursuit of strategic partnerships that drive industrial growth, clean-energy development, and job creation in line with the country’s foreign policy on economic diplomacy.
A note the Zambian mission made available said prospective investments discussed included construction of the industrial park in Chingola, copper mining and smelting undertaking in Luanshya and a 1 GW solar power project at a location not disclosed.
“The chairman (Jiawei) noted that due diligence was underway to ensure the plans meet Zambia’s laws and deliver value,” Catherine Kashoti, Second Secretary (Communication) at the Embassy of Zambia in China, said.
She disclosed Jiawei also expressed interest in understanding the regulatory pathway for establishing a banking institution in Zambia as a longer‑term objective, recognising the growing presence of Chinese enterprises in the country and the need for efficient financial intermediation to support trade and investment flows.
Zyuulu welcomed the proposals and reaffirmed that Zambia was open for business and investment.
– CAJ News