The Zambian government has signed the Investment Promotion and Protection agreement with Dangote Industries limited of Nigeria for the establishment of a 400 million United States dollars cement processing plant in Ndola’s Masaiti area on the Copper belt.
A feasibility study has already been completed for the setting up of the cement manufacturing plant with an initial capacity of 1.5 million tonnes per annum and works at the site will commence by next year February.
Speaking during the signing ceremony of the agreement, minister of commerce, trade and industry, Felix Mutati said Nigeria’s investment in Zambia is for the benefit of Zambians.
Mr. Mutati has welcomed Dangote into Zambia noting that the company would create more decent jobs for people in Masaiti, which will later enhance development in the country.
And ZDA Board Chairman Luke Mbewe said the 400 million United States dollar investment by Dangote industries would convey a positive message to other investors about Zambia as a safe and secure investment destination.
Mr. Mbewe said the project which would employ about 1,600 locals will create both direct and indirect benefits to the local community as a result of increased economic activities in the area.
He added that the cement plant once established will enhance competition and create stability of cement prices to the consumers.
And Dangote industries limited Chief executive officer Aliko Dangote said Dngote would add capacity to the existing cement plants in the country.
Mr. Dangote said the company has committed itself to support local business development.
[ QFM ]
lafarge ulimbe.
Good work Mr. Minister. You are hard working
More jobs from his able leadership RBB
Nigerians can invest in Zambia, were are the Zambian investors in neighboring nations?
BazimaNdola here are chibombebombe jobs you have been crying for. Don’t go there to steal the cement just work honestly and get your wages. More money in yout pockets.
GOOD NEWS, LAFARGE WILL NOW HAVE TO END THEIR MONOPOLY ON THE ZAMBIAN MARKET.LAFARGE HAS BEEN CREATING ARTIFICIAL SHORTAGE OF CEMENT IN THE COUNTRY IN THE LAST COUPLE OF YEARS BY EXPORTING MUCH OF THEIR CEMENT TO BURUNDI,ZAIRE, RWANDA AND MALAW WHICH RESULTED CEMENT DEALERS IN TO DOING BLACK MARKETING ESPECIALLY IN LUSAKA WHERE BLACK MARKETEERS WHERE REAPING THE POOR ZAMBIAN PUBLIC BY CHARGING BETWEEN 15 TO 20,000 KWACHA PER BAG ON TOP OF RECOMANDED PRICES. THIS IS QUIET GOOD NEWS AS THERE WILL BE MORE EMPLOYMENT PROSPECTS FOR THE UNEMPLOYED ONES IN THE COPPERBELT.
At last I can now finish bulding my mansion on the island with affordable and reliable cement by Dangote. Thanx to RB’s(soon to be Dr.) vision and able leadership. Okay, now I understand why he went with those businessmen to Nigeria. okay so its more investors? Zambia needs this Great Leader.
Great, i hope cement prices will come down. Larfage has monopolized the market
Whats is so funny is that our ministers continue getting excited when they hearbig figures.But what is the cut for Zambians.I dont mean cut for Ministers or RBB?
what are the contents of the same contract.does it favour Zambians or Ministers or RBB or Nigerians investors. I wonder.
iwe devil #7 you wont fininish building your mansion.These investors are not coming for you ,or maybe you are son of the minister.
These investors have come to enrich us
i mean they have come to enrich themselves as the rest of them.Only change to zambians
Nigeria??????????????????????????????
Yet another positive investment in the country, thanks to the visionary, sobber and hard working government under the able stewardship and veritable leadership of President Rupiah Bwezani Banda. Our country is headed for real and sustained GDP growth and unprecedented economic development with tangible results for our people. Forward with RB!
one nigerian friend told me that wherever dangote operates his prices are on the higher side.he says a 50kg pocked of cement in nigeria is about 7usd
one nigerian friend told me that wherever dangote operates his prices are on the higher side.he says a 50kg pocked of cement in nigeria is about.17usd
It is heartening to see the amount of positivity in our precious nation, things are so clearly changing for the better. We should repeatedly and unceasingly pray for continued progression and for RB to continue with this deliberate policy of speedily developing our nation. Things are so clearly moving upwards and our kids are certainly scheduled to have a better quality of life than we did. What we shoukd all then be doing is focusing on seizing the opportunity to be a part of this progression. Let us be the first for instance to supply dangote with stationery,cleaning services, weekly flower arrangements, maintenance contracts and all such other ancillary services dangote shall ever so willingly be glad to outsource. Let’s be smart and let’s nit just leave it for the mine suppliers to…
Beat us to this.
Nigeria Wafwa walemana are we that blockheaded that we cant run our own business or we belive in every foreigner???. To say truth when I hear something like Nigeria I run away as fast as possible
u shud plis watch ur domb ass mouth.if u don’t have anything good to post,its better u just keep your ass dude.
or do u want to remain poor foeva?
#18 This is actually one of the most successful companies in Nigeria. Not everything in Nigeria is bad. A lot of successful companies and people come from Nigeria. Some of the prejudiced ignorance displayed by some is shocking!
$400 mil sounds too good to be true for a cement plant?Toooo big imho. Maybe more like $40 mil because the former looks more like vote bait.
#18 This is for you. At least today you would have learnt something new for once.
Dangote becomes largest foreign direct investor in South Africa
Dangote Industries Limited (DIL), has formally increased its stake in Sephaku Cement (Pty) Limited, which is based in South Africa, from 19.76 percent to 64 percent. – Wed Oct 27 More here
Dangote Cement becomes Nigeria’s largest listed firm
Nigerian industrialist Aliko Dangote completed the 2.1 trillion naira ($14 billion) listing of his cement business on Tuesday, lifting the capitalisation of the stock market by a third – Tues Oct 26 More here
@ Chingolongolo thank you very much for you knowledge, I have mate more than a hundred of them unfortunately they all potrayed the same kind of behaviour. of course their are some who a good people I have but a few. Its not that they are bad naturaly its coz they are too many in their country. So only the tough sirvive
Rb and his minions taking CRedit for Mwanawasa’s deals again. This deal was concluded, land allocated, company called Dangote Cement Zambia Ltd or something already incorporated in 2008 with a small office in Lusaka, Environmental clearance already done, maybe financing was the issue. all this when RB was snoring at his farm in Chipata. many bloggers here are like my 8 year old daughter cause you don’t really know what been happening in Zambia. This Dangote song hand the $400m pledge has been sang ny the same Mutati mouth for last 3-4 years!!!. infact now I remember. from the time Lafarge pumped in the $250m tukule phase II new plant in Chilanga. How come pipo like Chinese eyes don’t know this? are you just cadres?
Great news. Forward with H.E.R.B
Dangote is the richest indeginous African. He is richer than Oprah. His investment is more than welcome.
@22,Mating over a hundred of them mmmm! muli nshimbi yashani mwakwata?
#23 I think you will find that actually RB and the late LPM belonged to the same political party namely the MMD. Unlike other person to holder parties, LPM was not MMD nor was MMD LPM. You are the usual pf kaponyas who celebrate when there is bad news about Zambia and feel embittered when something positive is reported about the country. Sadly for you and your brethren, there is more good news emanating from the country than bad, which I sincerely hope wont make you choke on your own bitterness.
#23 Digga, when did RB become Vice President? What is wrong with RB continuing with Mwanawasa’s projects that would benefit the country? Is it hurting you that RB/MMD is getting the praise? Like #27 (Chingolongolo) says, Mwanawasa was MMD and so is RB. Don’t let emotional thinking be a part of you, then you will make sensible reasoning and contributions.
give credit were its due. this is a good project. 1600 jobs is just cool. the politics may still be entangle in shame but the economic enviroment in zambia is just getting better. I this the gov needs to pour more money in Zambian SMEs so the can benefit from these conglomerates
LPM did the ground work, RB is just cutting the ribbons ….
this is good news to the people of Masaiti and Zambia as a whole. the increase in the number of cement manufacturing companies will have multiple benefits among others include, increased competition among the cement industry players which will lead to low prices( if they do not form a cartel), employment opportunities will increase, local supliers and service providers have ready market, through corporate social responsibilty CSR) the communities surounding the company will benefit from various projects undertaken through CSR policies. The concentration of work force at one place provides ready market for the surounding Masaiti community and hence economic boom. moreover, the government treasury will be boosted by extra revenue from this company. Masaiti local council will benefit from rat
Am proud to be a Nigerian.
9ja for life!
forward ur resume to me
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