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Zambia signs US$47 million deal to construct agricultural centre

With the goal to construct a large agricultural centre in the north of the country, the Zambian government has reached a financial deal of US$47 million with Bluebird Finance & Projects.

Ram Shalita, CEO of Bluebird confirmed the reports and said the deal which was signed between the firm, the Israel Discount Bank and two export credit agencies, together aiming at improving the level of agricultural technology in Zambia.

The turnkey EPC agriculture project includes the construction of modern cultivation and production infrastructure, irrigation systems and an advanced training centre. The financing package covers 100% of the contract value on a buyer’s credit structure extended to Zambia’s ministry of finance. The project is expected to be completed in approximately two years.

Bluebird has previously spearheaded the closing of two other financing deals in Zambia; a housing project and a new hospital. The latter, which GTR reported on a year ago, involves a US $165 million financing package provided by four banks and backed by two European export credit agencies. Construction of the hospital, located in Lusaka, is scheduled to be finalised in 2021.


Source: constructionreviewonline.com


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