Saturday, April 20, 2024

Zambia China Mulungushi Textiles to reopen this year – Mwansa

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Defence Minister Kalombo Mwansa (c)

The Zambia China Mulungushi Textiles (ZCMT) which was closed in 2008 will be re-opened before the end of this year.

Defence Minister, Kalombo Mwansa told parliament yesterday that the re-opening of the textile in Kabwe will create over 1,000 jobs for the local people.

He said government is in talks with China to see how much the two countries that are joint owners of the textile company will each contribute as working capital for the operations of the company.

He said government is also thinking of taking a majority share holding in the company to have major control of the company and avoid closures in future.

Dr. Mwansa said government is through the Zambia Development Agency (ZDA) also looking for a third partner to acquire the shares in the plant to reduce the percentage ownership by the two countries

He said the government will also ensure that the textile acquires the state of the art technology and produce products that will penetrate the international market.

Dr. Mwansa said this in response to Kanchibiya Member of Parliament Davies Mwango who wanted to know when the Zambia-China Mulungushi Textiles in Kabwe will be re-opened.

He further disclosed that the partner pulled out of the company because the company was not making profits and that the machines were obsolete.

The Textile which was closed in 2008 is jointly owned by China and Zambia who have 66 percent and 34 percentage share holding respectively.

ZANIS

5 COMMENTS

  1. this is one hell of a failed joint venture. just privatise it, un bundle it and sell to various interested parties, otherwise this closing and opening saga will never end

  2. If anyone remembers what was contained in the AGOA (African Growth and Opportunity Act) or even bothered to read what was contained it. You will realise that the Chinese only came to Mulungushi Textiles because Zambia was eligible to export Textiles to the US under this act. And once Zambia got disqualified they bolted and sold the little machinery that was there. Until our leaders start to act in the interest of their own countries, other than their pockets, we will always get kicked in the nuts even by some Chinese.
    Aren’t there any Zambians that can run this thing? Have some faith in your own people for once!

  3. Open, closse, close open, open close, close open…. How many more ribbons will you cut?

    Our valuable Citenge is loved by many neigbouring countries. in Zimbabwe it is officially known at ‘Cizambia’. Ca our Zambian government use the cancelled debt from Belgium to sustain this important industry…
    We are fed up with open, close, close open system at Mulungushi Textiles. Though painful, we at least know at Kapiri Glass Factory has been stripped of its assets by the last investor. Mulungushi textiles ni see-saw!!!!

  4. Its a campaign strategy. Election times they open then after they win they close!! These pipo are incompetent. LETS VOTE THEM OUT!!

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