Multibillion Cape Maclear Project to start next year

The ambitious multibillion Cape Maclear Investment Project is set to commence in Mangochi next year.

This is according to Promoter for Cape Maclear Holdings Limited Bright Malopa who said the project is expected to cost US$3.5 billion.

Malopa said the Cape Maclear Investment Project comprises a Special Economic Zone (SEZ) spread within the radius of 30km around the Cape Maclear peninsular, a state-of-the-art international airport covering a five square kilometre stretch at Namiyasi and a smart town linked to the SEZ.

He said within the SEZ, there will be world class resorts spreading across a stretch of 275 hectares from Malembo to the Cape with a chain of high class hotels.

Further reports indicate that the project will also have an international financial zone along the Monkey Bay – Golomoti Road and 850 holiday homes for the rich who will want to spend their money in an exciting environment.

“Mangochi is the centre for Sub-Saharan Africa and the idea is to turn the SEZ into an economic hub for the region within a five hour-flight radius, hence the construction of the airport because without it, the whole dream within the SEZ would be a white elephant,” said Malopa.

Cape Maclear Holdings Limited includes renowned global investors, Trivest Investment Group of Bahamas, Neo Energy of UK and China Harbour Engineering Company.

Recently, the Executive Chairman Cape Maclear Holdings, Ross Beatty, in the company of Malopa, met President Peter Mutharika at Sanjika Palace in Blantyre, where he was introduced to the president.

Beatty is a global investor having worked on a lot of big projects internationally and on the local scene. Export Development Fund, a Reserve Bank of Malawi subsidiary, also forms part of Cape Maclear Investment Holdings.

The new project is also expected to create approximately 30, 000 jobs.