UK Firm Ready to Build Iron Smelter in Chambishi

Posted on :Wednesday , 20th January 2016

A United Kingdom (UK)-based company has expressed interest in putting up an iron smelter at the Chambishi Multi-Facility Economic Zone (CMFEZ).

Zambia-China Economic and Trade Corporation spokesperson Stephen Lindunda said in an interview that the UK-based company was interested in establishing the iron smelter at CMFEZ.

He said 10 Chinese companies had also expressed interest in investing in the manufacturing of different goods within the zone.

Bishop Lindunda said about 10 companies had signed a Memorandum of Understanding (MoU) with Government in China recently.

"About 11 companies have so far expressed interest in investing at the CMFEZ. One is a UK-based company that wants to put up an iron smelter, while the rest are from China that wish to build different manufacturing companies in the Zone," he said.

Bishop Lindunda stressed that any investor wishing to invest in the area was required by the Zambia Development Agency to have a minimum capital investment of K500 million.

He said CMFEZ was also attracting interest from small businesses that did not meet the required standards.

At least 48 companies have so far invested at CMFEZ and about $170 million has so far been spent on the infrastructure.

The zone is poised to boost Zambia's economic growth with a combined investment currently at $1.4 billion

The zone has attracted investment from sectors which include mining, construction, trade, agriculture, health, geological exploration, engineering and banking, among others.

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