By Malawi News Agency

The ambitious US$3.5 billion Cape Maclear Investment Project is set to commence in Mangochi in 2018, Promoter for Cape Maclear Holdings Limited, Bright Malopa has revealed.

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 km stretch around Cape Maclera region and a smart town linked to the SEZ.

“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,” said Malopa in an interview with the Malawi News Agency (MANA) recently.

The project will 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 Prof. Arthur Peter Mutharika at Sanjika Palace in Blantyre, where he was introduced to the President and they also to time to exclusively on the project.

Beatty is a global investor having worked worked on a lot of big projects internationally.

On the local scene, Export Development Fund, a Reserve Bank of Malawi subsidiary, forms part of Cape Maclear Investment Holdings.

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