Museveni Promises Land to Chinese Investor - TowerPostNews
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Museveni Promises Land to Chinese Investor

President Yoweri Museveni has received and held discussions with Mr. Pengfei Zhang, a Chinese entrepreneur who has expressed interest to invest in a multi-manufacturing factory for production of an assortment of electric equipment.

During the meeting that took place at State House, Entebbe and attended by Parliamentary Speaker, Rt. Hon. Rebecca Kadaga, President Museveni told Mr. Pengfei Zhang who is Chairman of China-based Taichang Group Company Limited, that besides manufacturing electrical equipment like transformers, metres and domestic appliances like kettles and flat irons, the Chinese investor should also venture into making concrete electrical poles.

He said that Uganda has been using seasoned wooden electric poles, which do not last long when compared to concrete electric poles.

The President assured Mr. Zhang that the Government of Uganda would avail land for his investment adding that the enterprise would access high quality locally produced cement to enable venture undertake production of concrete electric pylons.

He said that his products would get ready market in the region.

Mr. Pengfei Zhang disclosed that the investment would in the future enter into footwear manufacturing and power distribution, among other undertakings.