President Peter Mutharika on Friday met a representative from a Russian state owned nuclear technology company which intends to invest in Malawi.
The company, Rosatom, is interested in areas of nuclear energy, rare earth mining and medicine.
Presidential Spokesperson Mgeme Kalilani said that chief executive officer for Rosatom’s central and southern Africa operations Dmitry Shornikov made the disclosure after an audience with the President in Russia.
Shornikov said soon they will be sending a delegation to Malawi for further talks and agreements on the deals.
The company intends to operate nuclear plants in Zambia, Tanzania, South Africa, Kenya, Rwanda and Malawi among others.
Rosatom controls 19 percent of uranium production globally and produces 19 gigawatts of electricity in the Russian federation.
Speaking on the development, Minister of Foreign Francis and International Cooperation, Francis Kasaila, described the meeting as fruitful and beneficial for Malawi.
According to Kasaila, Malawi stands to benefit a lot in areas of mining, energy and medicine.
Mutharika is in Russia where he attended the Russia-Africa Summit in Sochi. The president also had 30-minute meeting with Russian leader Vladimir Putin.