Sterling Agriculture Enterprise Zambia limited (SAEL) intends to invest over US $ 150 million to develop a first ever commercial sugar cane farm project in Solwezi in North Western Provincex.
SAEL, a subsidiary company of SP Group of India, which has already carried out pre feasibility surveys, has proposed to develop and establish an agricultural processing business that will include a sugar cane farm.
SP Group of Companies representative, Nick Money, said during a consultative meeting with local stakeholders in Solwezi that the farm will be one of the largest commercial farms in the province which will significantly contribute to the diversification of the economy in Solwezi.
Mr Money said the project will also create employment opportunities for the local people as it will be developed along with a distillery, a co generation power plant and other crop processing plant for value addition.
It is expected that the sugar cane farm project will cover the area of about 59 hectares of land in the Solwezi farm block north of Lunga River in senior chief Mujimanzovu’s area.
And Zambia development agency land bank development advisor, Lovemore Simwanda, said the sugar cane farm project has the capacity to bring development to the province following the positive preliminary results from pre feasibility surveys.
Mr Simwanda noted that Solwezi was chosen from among other regions because of its favourable climatic conditions and vast wetlands that suit the demands of the proposed undertaking.
He added that the project is expected to commence next year while full operations are scheduled to start by 2030.