Q FM Africa's Modern Radio
The construction of a US$480 million cement plant in Ndola is expected to commence in April 2019.
This follows the signing of the financing agreement between Central Africa Cement PLC and CBMI Sinoma of China.
Speaking at the signing ceremony, CAC Board Chairperson Willie Sweta says the construction of the cement plant which will be the largest in the country will take 30 months.
Mr Sweta says 1,000 people are expected to be employed at construction stage while 500 people will be employed once the plant is opened.
He says that CBMI SINOMA will finance up to 85 percent of the project while the 15 percent will be financed by ZCCM-Investment Holdings and CAC.
And CBMI Chairman Tong Laiguo says the company will strictly comply with local safety, health and environmental protection requirements.
And ZCCM-IH Chief Executive Officer, Pius Kasolo says once the construction of the cement plant is completed, it will immensely contribute to the growth of Zambian economy.
Dr. Kasolo says more people will be able to build quality housing infrastructure as the price of the cement will further reduce.
He adds that ZCCM-IH shareholding in the cement plant through CAC PLC will also increase from the current 30 percent to 49 percent.
Once opened, the Central Africa Cement PLC will produce up to 2 Million tones of Cement per year and 5,000 tones of clinker.