Indian Vice President Mohammad Hamid Ansari accompanied by a confederation of Indian Industry business delegation is expected to arrive in Zambia today for a three-day state visit as part of his three-nation tour of Zambia, Malawi and Botswana.

While in the country, Mr Ansari will meet President Rupiah Banda and later hold discussions with vice President George Kunda on bilateral, international and other issues of mutual interest and also pay a courtesy call on Minister of Commerce Trade and Industry, Felix Mutati.

Mr. Ansari will also witness the signing of a US$50 million loan between Exim Bank of India and Ministry of Finance and National Planning for Itezhi Tezhi power project, a joint venture between Zesco and TATA Africa Holdings approximated to cost about US$200.

Ministry of Foreign Affairs Permanent Secretary, Tens Kapoma says the 30 manned business delegation whose objective is to explore business opportunities in Zambia is also scheduled to hold a meeting with their counterparts from Zambia Development Agency (ZDA) and Zambia Chamber of Commerce and Industry (ZACCI) on Wednesday morning.

Bilateral trade between the two countries stood at $207 million in 2007-8 while, Vedanta Resources invested $48 million in Konkola Copper Mines (KCM) in 2004. Their combined investment in Konkola Deep Copper Mining Project, the sulphuric acid plant and new smelter reached $1.5 billion in 2009. In the next three years, the investments are expected to total $3 billion.
In 2008, RJ Corporation of India signed a $30-million agreement with the Zambia Development Agency to set up a Pepsi bottling plant in the country.
 

Mr. Ansari’s visit to Zambia, therefore, is expected to reinforce and revitalize the warm relations that exist between the two countries.