Nanjing owner secures trillions for Tangshan Mbale Industrial Park development

Nanjing owner secures trillions for Tangshan Mbale Industrial Park development
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A total investment of $600m (Shs2.2 trillion) will be invested in Mbale Industrial Park that is expected to house 30 enterprises and create 12,000 jobs for Ugandans, Tian Tang Group chairman Paul Zhang, also the owner of Nanjing Hotel in Kampala is confident.

This follows the signing of agreements with a group of eight Chinese firms on Thursday in Tangshan City, a largely industrial city on the eastern coast of China.

Also present to witness the landmark signing was State Minister for Privatisation and Investment Evelyn Anite, State minister for Trade Micheal Werikhe.

“We are going to invest in the development of Tangshan Mbale Industrial Park and we will also attract investors to create the jobs for the people of Uganda,” Paul Zhang said at the climax of the First Tangshan Mbale Industrial Park Investment Promotion Conference that was witnessed by more than 200 Chinese entrepreneurs and officials.

According to Minister Evelyn Anite, investors led by Tian Tang Group and Sinoma, a company that is going to establish a cement factory also in Mbale are expected to visit the country in August on a fact-finding mission.

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