The government of Malawi has been handed the keys to its new international multi-sports stadium, after the Chinese contractor in charge of the project completed its work.

According to the The Nyassa Times, the Bingu National Stadium, located in the capital Lilongwe, cost US$70m (€62m, £52.4m) to build, with funding coming in the form of a concessional loan from the Chinese government, which will be paid back by Malawi over 20 years.

Chinese ambassador to Malawi, Shing Ting Wang, said the stadium can hold more than 40,000 spectators. He described it as a landmark building that cements the relationship between the China and Malawi.

“Three years ago this place was a wasteland, but now with this magnificent facility the face of Lilongwe has changed. This facility will be able to host international events and in the process create employment,” he said.

The facility, which will host a number of sports, features an Olympic standard synthetic running track and a playing field with special drought-resistant grass imported from South Africa. It also features a large gymnasium and a press gallery.

The official launch of the stadium will take place in October once the final fittings have been installed.

The project’s contractor, Anhui Foreign Construction Group, will work with the Malawi government to maintain the facility.