Chibombo MFEZ preps on course

BASIC operations at the US$150 million Chibombo Multi-Facility Economic Zone (MFEZ) will start at the end of this year.

This follows the completion of all the six steel plants and an initial investment of about US$160 million.

The multi-million dollar project has attracted investment from six foreign companies among them, a tobacco growing and processing company that has already started installation works.

Jiangxi United Industrial Investment Limited general manager, Xu Jiangfeng, said the completion of the industrial zone has attracted an addition of five companies with intention of investing in transformer equipment and solar energy assembly plants among others.

Mr Xu said in a statement that negotiations were underway with other companies interested in gravel crushing, and gasoline.

He indicated that the industries would create an annual output value of US$320 million and create 6, 000 jobs for the local community.

“The industrial park will always adhere to the concept of consultation, co-construction, and sharing, take root and integrate into local areas, especially in promoting Zambia's industrialisation and local employment,” he said. Mr. Xu added that US$40 million had been invested in infrastructure, including roads within the industrial zone.

He said an additional US$60 million would be spent in the construction of a power substation and an administrative complex among others in three years.

Mr Xu said more capital would be invested in the project based on the performance of the business promotion.

The industries to be set up in the multi-million Chibombo MFEZ include among others agriculture, food processing, and textiles.