Commerce, Trade and Industry Minister Margaret Mwanakatwe has disclosed that a total pledge of 2.4 billion has resulted from the President’s visit to China.
Ms. Mwanakatwe told a media briefing in Lusaka today that outside the 2.4 billion, there is a further 800 million US dollars investment pledge.
Ms. Mwanakatwe says during the visit, the presidential delegation met Higer Bus company Limited who expressed willingness to set up a bus assembly plant in Zambia.
She says China Civil Engineering Construction Company Limited also expressed interest in the construction of a US$350million TAZARA/Muchinji Railway line of which the pre feasibility study of the project has already been undertaken.
She adds that Sino Construction Limited has also partnered with Ndola Lime Limited to establish a US$580 million cement plant in Masaiti and Ndola.
Ms. Mwanakatwe states that Dana Zambia Holdings and Far East Cable Manufacturers Company of China proposed a US$1billion investment in a cable manufacturing plant to be located in the Lusaka South Multi Facility Economic Zones which is expected to create 1,000 jobs.
She says Buffalo Consortium Limited of Zambia and Jidong Development Group of China also signed an agreement of US$420million for a 1.5 million tonnes per year capacity cement plant in Lusaka which is expected to create 5,000 jobs once completed.
Ms. Mwanakatwe adds that it is now her ministry’s job to follow up and facilitate the setting up of firms and identify local entrepreneurs to partner with the Chinese companies so that job creation and industrialization is a reality.
Q FM