Publication Date:
Sun, 2011-01-30 02:34
Khaled Alrajhi said Menafea would also build 2,000
housing units in the Zambian capital Lusaka under the same agreement, signed
with Zambia's investment promotion agency.
"We have been granted 5,000 hectares of land to grow
pineapples using the latest technology and are going to put up a factory to
produce juice for local consumption as well as export," Alrajhi said.
Zambia Development Agency director for investment
promotion, Muhabi Lungu, said more Saudi firms were expected to invest in the
southern African state.
In December, Finance Minister Situmbeko Musokotwane said
Zambia did not regard leasing farmland to foreign investors as a form of
"colonialism" and was encouraging Gulf countries to invest in its
agricultural sector.
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