The Zambia and Chinese governments have signed a 150 Yuan loan contract for the construction of a new stadium in Ndola.
Finance and National Planning Minster Situmbeko Musonkotwane signed on behalf of the Zambian Government while Chinese Ambassador to Zambia Li Qiangmin signed on behalf of his government.
And Anhui Foreign Economic Construction Company of China has been engaged to carry out the 26 months construction project.
Speaking at the signing ceremony in Lusaka today,Dr. Musonkotwane expressed happiness that China has continued to show its continued support towards infrastructure development in Zambia.
Dr. Musonkotwane noted the project which is expected to start by June this year has come at right time when many of the local people are losing jobs due to global economic meltdown.
He said it is for this reason that government is pleased as the project will not only improve the sports standards in the country but will also cushion the impact by creating more job opportunities for the local people.
He urged the business community in the country to take advantage and boost their businesses by building more infrastructures such as hotels, lodges and shops around the stadium.
And at the some ceremony Chinese Ambassador to Zambia Li Qiangmin retaliated his government commitment towards infrastructure improvement in Zambia.
Mr. Li said despite the economic hardships that most of the countries are facing in the World, China will ensure that it implement all the projects that it has started.
He further assured the Zambian government that work will be done according to schedule by the engaged constructor.
And in Mumbwa district, a Chinese Mining Investment Firm has donated K10 million towards the development of infrastructure at Nangoma High School .
Senior Chief Shakumbila of the Sala People disclosed to ZANIS that a Chinese Firm called common Resources Holdings (CRH) donated the money towards the expanding the infrastructure of the school.
The Chief said that he was happy with the assistance made by the investors, adding that Traditional Leaders appreciated efforts that aimed at propping up education in Chiefdoms.
He said the management of the firm had informed him that they were still prospecting for minerals in his chiefdom, and that more donations could follow after the commencing of production.
And Mumbwa District Commissioner Dowell Chilimboyi said the donation was illustrative of the private public – Partnership (PPP) that was needed in complementing government’s efforts towards improving the education sector in rural areas.
Mr. Chilimboyi urged other investors in the district to emulate common Resource Holdings Firm adding that much could be achieved if government and the private sector worked together in developmental projects involving education infrastructure.
ZANIS/MM//CMM/MKM/ENDS.
Be careful with these loans.We dont want another HIPC for our beloved Zed though the construction of a modern stadium is welcome.Please we dont want to be enslaved in debts again.
Sharp shooter, you are right we don`t want another HIPC pa Zed, besides, earlier we were told the funding for the stadium was going to be a grant to Zambia now how come things have changed? Thats were we need to be carefull for such turn of events nevertheless, the idea of constructing a stadium is welcome however, the government should ensure that our local suppliers are empowered in the supply of materials and labour otherwise, if we are not carefull, even a labourer will be sourced from China.
Stay in opposition mate. You will be crying everyday. Just like that. Viva MMD.
It’s now become a loan,i thought the Chinese govt offerred the construction of a modern stadium in Zambia at their own cost t least that is what i remember i heard when the late President Mwanawasa & his delegation returned from an official visit to China,anyway,maybe i didn’t get what was said clearly.
Nothing is ever free in politics, however it dressed. There is always an advantage to be gained by the donor country from its seemingly altruistic gestures.
I thought they offered that gesture as a way of saying thank you for being given the opportunity to run various mines & industries in Zambia therefore automatically benefitting more from copper which they(Chinese) desperately need.It i pretty obvious that they have either withdrawn their offer or it could be that the current govt is trying to blind the nation by claiming it’s a loan,i have lost faith & trust in Banda,he’s such a chameleon.
Twalya again. All those in opposition especially the useless UPND see us pockect some more. Viva MMD.
Are we still taking these loans and making headlines with them? Remember how in UNIP days we used to make big heardlines , Zambias gets a loan for so “millions” and we celebrated without knowing what we were putting ourselves into, until everything collapsed in the 80s.
Guys who wrote this article?Do you know that 150 yuan is only about 25U.S.D? 25pin dollars come on guys whats this embarrassing thing?Where can a 25dollars build a structure?Re-edit the article please.
As well the grant has changed into a loan?How?
Yes it is difficult to comment on figures which are not straight. I will not comment.
That is the reason why I think this article is a piece of what I think it is… We need training!
i hear you bro,,, LT plz clarify no correct your mistake, its definitely not 150 kwai
LT are you sure its 150 yuan or 150 thousand yuan….. coz 150 yuan is 200pin zmk
It must be 150million Yuan Renminbi i.e. over US$21million. The initial projected cost of this stadium was US$60 to 70 million. The conditions did not state that it is a free grant.
China pledges to build Ndola stadium
February 23, 2009
Despite its failure to host the 2011 All-Africa Games, Zambia has been assured by the Chinese government that its 50 000-seater Ndola Stadium will still be constructed.
Chinese President Hu Jintao last week said his country is committed to improving sports infrastructure in Africa and will soon commence construction of a modern stadium in Zambia.
Hu, who was speaking at the inauguration of the 65 000-seater National Stadium in Dar es Salaam, Tanzania, said Beijing Construction and Engineering Group Company would soon start constructing the stadium in Ndola.
Hu said his country attaches great importance to relations with…
Fine.
I thought the construction of the stadium was going to be through funds granted by the Chinese government. What has changed? Can some MP raise this matter in parliament with the Ministers of Finance and Sports so the public can get the truth.
How much is the loan.
Is the new stadium going to earn us some income from teams preparing for World Cup. Cash from such could help pay for the loan.
We need to be business minded.
When is this same construction starting? Twnaka na ma fake projects. What sort of employment for the local Zambians? What is the repayment period of our loan?
Still talking signing and its 4 yrs now this staduim, why can’t the GRZ be bold enough and just source the money and build it, then move on to independence staduim. We talk about building 50,000 seater as if its even a big staduim.