Japanese investor gets land for new textile plant

GOVERNMENT has allocated land to a Japanese investor in the Kabwe MuiltiEconomic Facility Zone (MFEZ) for the setting up of a textiles plant as it looks for other investors to recapitalize Mulungushi China textiles, says board member, Kennedy Kamba.

Government recently closed the Mulungushi China textiles for two years to facilitate repair works as they pave way for the new investor because the plant in its current form can't make any profit.

Mr Kamba revealed that government decided to give the Japanese investor land in the MFEZ because the Japanese investor was not getting along with the Chinese investor that has 51 percent ownership in Mulungushi China textiles with government owning 49 percentile's hence the stalling of the whole process of rehabilitating the plant.

Speaking to the Daily Nation in an interview, Mr Kamba stated that apart from the deference between the Chinese and Japanese investors they were other issues which the Chinese and Zambian government needed to sought hence the allocation of land to the Japanese investor in the Kabwe MFEZ for the construction of the plant.

"We have secured some investors from Japan now the issue which is there is that the Japanese investor is not getting along with the Chinese investor which owns 51 percent of the Mulungushi China textiles since the stalling of the whole process of rehabilitating the plant," said Mr Kamba.