By Times Of Swaziland
LUDZIDZINI – His Majesty King Mswati III returned with exciting news for the country that he had secured a petroleum investment worth approximately E900 million.
Even though the King did not mention the name of the company, he hinted that it was a giant company in the petroleum industry.
During a press conference at Ludzidzini Royal Residence upon his return from attending 68th United Nation General Assembly in New York, His Majesty announced that the investment was worth E890 million (US$89 million).
“When we were in Texas, we met some people who showed interest of wanting to invest in the country.
Promises
“They informed us that they had a seed capital of US$89 million, which will be used during the first phase of the project. And this promises to be a big project,” he said.
Detailing, His Majesty said Texas was known as the hub of the petroleum industry in the United States of America.
He pointed out that the company expressed its desire to expand beyond the horizons.
“With an investment of such magnitude, we hope it will help develop the country as part of its dream of being a First World country,” the King said.
His Majesty said the company had promised to partner with locals and also bring more investments in future.
“I have noted that most European based companies were now looking at Africa as the appropriate investment destination. As a result many companies made commitments to invest in the country.
“Talks with the potential investors are under way. And we hope the relevant ministries will conclude them soon,” he said.
Invited
After visiting Texas, the King said they were invited by some business people in Nevada.
“What I noted there was that their interest was Sikhuphe (the International Airport). They requested that we allocate them a piece of land that would house investments found in Nevada,” the King said.
However, His Majesty said they were still to engage the stakeholders on how they could partner with the Government of Swaziland.
Besides meeting investors the King highlighted that they toured the National Aeronautics and Space Administration (NASA).
Survived
NASA is the agency of the USA Government that is responsible for the nation’s civilian space programme and for aeronautics and aerospace research.
The King said they were educated on the technology and how people survived in space. As part of their survival, the King said they were informed that the researchers floated in air all the time.
On a lighter note, he said: “Ngoba uhlale undiza…noma uya endlini lencance, uma ungakahlali kahle kungahle konakale. (Because they are always floating on air…in the event one need to use a rest room, they should take precautions because they might cause a mess).”
He noted that this was a tedious job. – Times Of Swaziland
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