FQM to spend US$500 million on the Kipemba project in Zambia

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First Quantum Minerals (FQM), a mining company based in Zambia, is planning to spend US$500m in the construction of facilities on 1,000-hecatres  at the Kipemba area.

According to the plan already received by Solwezi Municipal Council, the company is planning to develop facilities on four separate plots, each of 248 hectares in size. Among the planned investments include developing world-class residential and commercial area at a cost of US$1m.

Other facilities to be constructed in the Kipemba project include an industrial park that will sit on a 48-hectares piece of land. In addition, the company will construct 2000 houses and a commercial area, with the latter spanning 20 hectares. Another landmark planned was a shopping mall, to be built by Elliot Properties of Ndola.

The project is welcome in the Kipemba mining town, since it will bring sustainable development. Solwezi Town Clerk Ronald Daka has already been quoted as saying that the development is remarkable. These projects will open up planned integrated development in the “big shanty” town since there were many other projects underway according to Mr. Daka. These include another shopping mall by Kiampemba Development Company.

The Ministry of Local Government and Housing was also expected to approval another project for a mini town in the Wamami area, which is a development that will span 242 hectares, and a partnership between the Solwezi Town municipality and Henan Gouji and Mei Mei. There has been reported housing deficit in the town and thus, Kipemba project is very welcome.

FQM was also planning another 250-hectare Kabitaka residential and commercial area development project, which will cost US$100m. Many of the facilities including a regional shopping center, hotel and houses were expected to be completed in third quarter of 2017. It was expected that work on commercial development of Kabitaka  would start off this year and run up to second quarter of 2015.

At the present, many other facilities, including a six million-litre water storage facility, 366 houses, primary school, and a sewerage system  have been completed. Further developments would also be carried out on the South and North of Kabitaka after title deeds of the plots have been received.