Ministry of Finance says it has identified a financier of the Salima-Lilongwe Water Project.
Confirming the development to a Parliamentary Committee on Natural Resources and Climate in Lilongwe, the Ministry said funding was a major challenge impacting commencement of the project.
Concurring with the Ministry, Khato Civils Limited through its Chief Executive Officer Mongezi Mnyani said the company is ready to start the multi-billion-kwacha project once the loan agreement is completed.
Commenting on the development, Chairperson of the Committee Welani Chilenga has described the move as progressive step towards supplying portable and reliable water to people of Lilongwe and surrounding districts.
He said: “What has transpired today is very exciting news and as a Committee on behalf of Parliament and indeed on behalf of Malawians we are very excited with the discussions that have taken place today.
“We have been assured by both the Minister of Finance and Khato Civils that now they are at a very advanced stage, this very good news to us.”
The project, which is pegged at about K260 billion, will be implemented within a 22-month period.
However, both parties have failed to disclose the name of the financier.