Q FM Africa's Modern Radio
The Zambia Development Agency has signed a US$186 million Investment Promotion and Protection Agreement with Mpande Limestone Limited for the setting up of a cement manufacturing plant in Chieftainess Nkomesha’s area.
Patrick Chisanga
Speaking during the signing of the agreement in Lusaka today, ZDA Director General Patrick Chisanga says the cement plant is expected to produce one million tons of cement per annum which will stimulate competition among cement producers, with potential benefits for future reduction in prices of cement on the local market.
Dr. Chisanga says the investment will result in the employment over 2,000 Zambians in the investment area.
He adds that the investment will stimulate activity in the chiefdom and improve the livelihoods of the people.
Dr. Chisanga notes that the 186 million United States dollar investment will convey a positive message to other investors about Zambia as a safe and secure investment destination.
And speaking earlier, Sinoma Vice President Sui Yumin says Mpande Limestone Limited is committed to provide high quality building material and efficient integrated service for infrastructure construction in Zambia.