Govt in the process of securing an equity in NCZ

Finance minister Bwalya Ng’andu says government is in the process of securing an equity partner to operate nitrogen chemicals of Zambia in Kafue district.

Dr Ng’andu has told parliament that this is being done through the Industrial Development Corporation (IDC).

He says several interested parties are conducting due diligence of the fertilizer manufacturing plant.

The finance minister was responding to a question by Kafue Member Of Parliament Miriam Chonya who wanted to know whether any money from the Eurobonds was used to recapitalize nitrogen chemicals of Zambia, and if so how much and when was the money disbursed.

Ms Chonya further asked the minister whether government has any plans to recapitalize NCZ and when the recapitalization plans would be implemented.