LUSAKA, Oct. 20 (Xinhua) -- Zambian President Hakainde Hichilema said on Tuesday that a Chinese investment to expand a fertilizer plant demonstrates partnership with mutual benefits.
"Cooperation must be mutual, must be real, must deliver mutual benefits, as we can see here. That is cooperation, that is partnership for shared benefits," he said at a groundbreaking ceremony for the expansion of a Chinese-owned fertilizer production plant in Lusaka, the country's capital.
United Capital Fertilizer Limited, a subsidiary of the Chinese conglomerate Wonderful Group of Companies Limited, invested 1.6 billion U.S. dollars in the project to support Zambia's industrialization and agricultural transformation.
Hichilema said the scale of the investment demonstrated the investor's commitment and confidence in Zambia's economy, adding that the government would continue to support investments that deliver tangible benefits.
Chance Kabaghe, board chairperson of United Capital Fertilizer Limited, said the project reflected the company's continued commitment to supporting private-sector participation in Zambia's economy.
The company sought to strengthen its capacity to meet domestic demand for fertilizer while positioning Zambia as a reliable supplier to neighboring countries, Kabaghe added.
