The National Pension Scheme Authority (NAPSA) is to invest about US$50 million in the Kalulushi Housing project.
NAPSA director of Investments Joseph Ngosa disclosed that the US$50 million will be spent on the construction of 400 housing units in Kalulushi district on the Copper belt.
The three-year project which will comprise high, medium and low cost project is likely to be extended to other councils on the Copperbelt.
Mr. Ngosa made the disclosure during an Environmental Impact Assessment meeting held with NAPSA, Kalulushi Municipal Council and other stakeholders .
He said it was cardinal for NAPSA to invest in estates because the insurance was critical to its funding hence the need to engage housing projects.
This is contained in a press statement made available to ZANIS by Kalulushi Municipal Council Public Relations officer Sylvia Mumbi Chileshe.
Meanwhile, Kalulushi Municipal Council acting Town Clerk Florence Chizongo implored NAPSA to ensure that ECO system (stream and vegetation) around the area was not disturbed.
Mrs.Chizongo has advised NAPSA to engage competent constructors in order to construct standard buildings.
She further reaffirmed the local authority’s commitment to ensuring that the project was a success.
She also appealed to NAPSA to be cautious of the road safety as they put their equipment on site as the construction site is on the side of Kitwe- Kalulushi highway.