Investment holding firm Zambia Consolidated Copper Mines (ZCCM-IH) is set to construct a cement plant in Zambia,Chief Executivve Officer of ZCCM-IH, Pius Kasolo has said. The plant will be set up at Ndola Lime on the Copperbelt with an initial investment worth $600 million.
Mr Pius Kasolo said the plant would be completed in three years time and is expected to create more than 1,000 permanent jobs.
During an interview in Zambia’’s capital, Lusaka, Dr Kasolo said the plant’s production capacity would be 5,000 tonnes daily and would be a good platform for reinstating the retrenched miners on the copperbelt.
He noted that ZCCM-IH would generate about 10,000 jobs in the initial stages of construction but the number would reduce to over 1,000 on its completion.
“The initial investment of the plant amounts to about $600 million and we are planning to set it up in Ndola.
“We have diversified and the cement plant is going to be significant with a production capacity of 5,000 tonnes of cement per day. We will be generating our own energy from the plant,” said Dr Kasolo.
Feasibilty studies have since been conducted and finances were being put in place according to Dr Kasolo.
He added that this was being carried out in line with the Zambia International Investment Forum-2016. The forum would be held under the theme “Investment for Industrialization, Wealth and Job Creation.”
Margaret Mwanakatwe, Commerce Trade and Industry Minister launched the Investment Forum in Lusaka on Friday.
According to Dr Kasolo, more people would be able to build houses and factories spurring economic growth once cement prices drop.
He said Zambia would get more industrialized and the economy gets a major boost if cement prices drop in the market. He attributed this to the ongoing initiative to construct the cement plant.