THE Zambia Consolidated Copper Mines Investment (ZCCM-IH) is in the process of constructing a cement plant in Ndola with an initial investment of US$600 million.
ZCCM-IH chief executive officer, Pius Kasolo said the plant which would be setup at Ndola Lime on the Copperbelt would be completed in three years time and is expected to create more than 1,000 permanent jobs.
Dr Kasolo said in an interview in Lusaka that the plant’s production capacity would be 5,000 tonnes per day and would absorb a good number of retrenched miners on the Copperbelt.
He said at construction stage, ZCCM-IH would create about 10,000 jobs but that once the plant was completed, the number would reduce to over 1,000.
“We have diversified and we are planning to setup a cement plant in Ndola with an initial investment of about $600 million.
“It will be a bigger cement plant which will be producing 5,000 tonnes of cement per day and we will be generating our own energy from the cement plant,” he said.
Dr Kasolo explained that finances were being put in place and the feasibility studies had since been conducted.
He said this was in line with the Zambia International Investment Forum (ZIIF -2016) which would be held under the theme “Investment for Industrialisation, Wealth and Job Creation.”
Commerce Trade and Industry Minister, Margaret Mwanakatwe launched the Investment Forum in Lusaka on Friday.
Dr Kasolo said once the prices of cement drop further, it would mean that more people would be able to construct houses and factories.
He said this meant that the more the prices of cement drop, the more industrialised Zambia would be.
Kasolo iwe, don’t be used by the clueless PF. They are just trying to win back the hearts of the miners they cheated they would save all their jobs. In the meantime the elections will be held in seven months, not three years when you hope to wake up from your slumber!
This is unjust propaganda of disgruntled minions!
This ZCCM~IH is another winking at their political expedience & propaganda of visionless marquees’!
The best solution to this economic downturn is by voting PF bandits & visionless Lungu OUT. ZCCM is distorted by PF bandits.
4 months left PF to be dethroned.
The Skeleton Key
Finally ZCCM-IH Gives hope bac to the Copperbelt. Next is a wholly operated mine.
Yes dream on
With Dangote on the ground its a bad time to enter
Pius I agree with you.
We do not need this investment as there are already 5 companies dealing in cement production which Dangote will dominate in 3 years. This is surely a bad timimg infact corruption. Pius want to steal money after IKULILE investment trick was Thwarted.
HE MUST NOT BE ALLO0WED. WHERE IS THE POST OR PAST. this is what they must ficus on NOT Lungu
You might as well create a new portfolio and employ him as Zambian economic president.
Government should not be running business.
The real ZCCM which was nationalised as NCCM failed miserably to run business.
What makes you think you can do better?
This is the set up of a new milk cow for the party and its government to get new loans as Zesco is now in ICU.
“…ZCCM which was nationalised as NCCM..”. Really? How old are you mate? And you hope readers on here will believe a word you say..!
These plans have been there for a long time now, I would really like to see it coming to fruition, Zambians really have got problems of pulling down even developmental ideas, This Idea of the Cement Plant is going to propel the City of Ndola and its economy. Watching Dangote exploiting its workers, I think the idea is going to bring sanity to the Cement Industry after all cheaper Cement is all what Zambia longs for. BIG UP ZCCM-IH and lets see the Plant rolling in, People of Ndola want decent Jobs.
its not the idea. think man. its the fact that it will be run by a parastatal, name one that has worked
Being a geologist by profession, Dr Kasolo should first talk about the source of raw material for the plant. Tell us the resource numbers first and then the output. If I remember correctly, Ndola Lime’s resource base has reached uneconomical depth’s and also sub-economic quality of limestones necessary for the production of cement. On the other hand, Dangote’s location of the new plant is ideal because there is enough material in the area to sustain production. Dr. Kasolo, your comment please.
They did nothing for 40 years when the see a foreign investor set up shop in CB and start making money that’s when they come up with the same idea to kill off his business by selling to their mines…they were happy to see us being ripped off by Chilanga Cement…they can not think of anything innovative!!
That’s great news, Dr. Kasolo. Let us see the setting up of wholly owned Zambian companies again, to create employment. Sometimes commentators should put politics aside and give credit where it is due. Even if an excellent idea comes fro some one from a party you oppose, please appreciate it..
Jay Jay, who are those that did nothing for 40 years?
This is not a good move. International giants like LAFARGE are struggling due to the emergency of Dangote. How will ‘Ndola Lime Cement’ survive with inherent incompetence’s of indigenous operations? Mind you Dangote is a modern automated plant with few employees. Now you are talking of job creation of upto 1000 people. I doubt if your price will be competitive.
If ZCCM could have run anything, why did they need to privatise or sell off their assets in the FIRST PLACE ?
You sell KCM at $25m then u want to put $600m into an overtraded cement market in the context of no new mines being constructed and an economically stressed consumer ?
Dream on and may I add, Good Luck
ZCCM to U-turn back to owning subsidiaries to improve its profit margins? Or is it a mere decoy to solicit votes? The answer is obvious.
Wrong move, you should have partnered with Dangote but you can still find a suitable private partner and spread the business risk. ZCCM-IH is not in the business of manufacturing and marketing cement directly but can participate indirectly through smart investments. $600m is too big an investment risk and it should be spread through equity partnerships.
Nice idea. Can’t wait to see it pull through
We have to create jobs for those unemployed from the mines. The sums say 10,000 during the setup period dropping to 1,000 or suggested under that. However 5,000 permanent jobs will be created. This is in line with economic theory of managing the working population during recession. Even creating pointless jobs is good as long as we keep the working population in some sort if work and generate some dirt of income. In the UK we followed the same mode. There was a plethora of new types of jobs, shop shelf stacking, elderly nursing assistance jobs etc. people were encouraged to do what they can. For the economists here is it not Keynesian?? UPND commentators should actually be braying for strong monitoring of these investment funds. 600M is a lot to allow Mwanakwatwe, unsupervised…
UPND Supporter’ effort expended on accusing PF of potential embezzlement should actually be spent on monitoring and evidence finding of any attempt to misappropriate investment funds. UPND to be effective opposition need to start thinking along those lines. Not being obstructive but accepting positive moves by PF while cautioning on corruption. After all opposition duty is to run the country with the party in power through parliamentary debate.
@Patriot Abroad UPND PMZ have been running away from parliament weneva issues are hot with the recent one wen the constitution was about to be passed, they asked for more time to read the document and still came back with nothing to defend their postponement and even now they have not given valid reasons as to why they run away from parliament and now are crying foal like under five kids……..*****s dnt waste our time if u have no MPz who cant argue……they spent time arguing about 3 clauses…50% +1, running mate and duo citizenship…….. these guys are finished and its time to finish them completely this year
Agreed. We need to be exposing this, and our gov’t should be be exposing their failure to partake fully in a democratic process. Citizens must see these very obvious weaknesses by these people. Parliament is the way,not bring your gov’t down by hysterical allegations online. It’s scandalous really. You can’t allege corruption if you are not part of the process to prevent it by providing evidence to Judiciary. Let’s not destroy Zambia in order to rule it, it’s illogical!!
How can you provide evidence to the same self theives ??? It will be covered up like is currently happening.
@Patrick we musn’t faint before trying. Honestly, if the investigative skills were available in opposition we can stamp out corrupt far easier in gov’t although it might persist due to smarter cover and evasion methods!! We just go bigger! You know if your mate has better Nukes, you just up yours as Donald Tramp was admiring Kim Jong Y!!
@Patrotic Abroad, this is the first time I have read your comments which does contain demeaning words like under five supporters and alike, well done and I hope you will continue in the same path. We need to debate issues and not demean those we feel do not agree with us because at the end of he day we all want a better Zambia for ourselves and our children. Coming back the points you raised, UPND has been trying to highlight these short fall in government but the government does don’t listen until it is too late. Take for instance the moving of RDA to state house. When UPND raised an alarm that it will be a conduit of corruption, they were called names like they are bitter, sadists you can name it. So how do you expect someone give advise if you call them names whenever they try?
you don’t need to spend 600 hundred million to set up a cement plant.The cement plant can be set up by a investment of only 100 million dollars. the rest of the money will be pocketed by MR KASOLO and his team
at ZCCM-IH namely the brilliant accountant and con man Mananshiku and his friends.IN THE NAME OF JESUS
we pray that this entire plan be revealed to His excellency EDGER LUNGU .These people are willing to bring
the entire nation to its knees and creat more debt and syphon 500000 million from the government
It is shocking how the usual suspects, namely regionalists Upnd, condemn any progressive project but are the first to suggest government is doing nothing about everything. They refuse even to acknowledge the massive infrastructure developments throughout Zambia.
All this exposes their DNA.
And they hope to rule the country.
Never in a tthousan years.
This project has been long over due KK opted to buy Ndola Lime company during the time of privatisation to start processing cheap cement for Zambians, but he was intervened by MMD and HH who was the privatisation chairman. ZCCM IH should have done this a long way back than now, any way fili uko tuleya Lesa atusunge …!
Real Zambians lets do what is right for this country Tongas are alwys like that. Anything not coming from a Tonga will never be right.
Did any one know that MANASHIKU AT zccm-Ih is the same man who is connected to victory ministries and that he and his freinds at zccm have hached this plan to fund MMD in this election.Mananshiku is the same person who is also involved in the kitwe tailings dump and has made millions from the copper he is stealing since the last ten years with his freinds in the uk.What is the zambian intelligence doing since the last ten years.How was he made a director when he has direct interest in zccm-ih tailings.HE is running zccm as his own personal company.Are the intelligence at zccm-ih sleeping or everything is carried out with there blessings.Wake up Zambian before it is to late.They have looted the entire nationand sold the assets for a cup of soup.The devil comes to steal destroy and Kill…
Did any one know that MANASHIKU AT zccm-Ih is the same man who is connected to victory ministr ,but the LORD has come to bless us in abundunce.We will not allow these crooks to rape our mother ZAMBIA.MR.PRESIDENT THE TIME has come for you to take action ,you have taken oath to protect mother ZAMBIA and you have to protect the nation from these wolves in sheep skin.Cosmos munanshiku and his freinds have also syphoned the sale money usd 60 million received from kcm as they were involved in the privatisation .The lord has mandated you look after his flock and sheep,you cannot allow these crooks to work under your nose and distroy this nation.Please reshuffel the entire team at zccm and bring in a credible team and make history.The lord has given you wisdom understanding and knowledge and…
and knowledge and with it it has given power to destroy the evil.May the lord give you the strenght to take the right action to correct the wrong.In JESUS NAME.
DR .PIUS CHILUFYA CASOLO in the NAME OF JESUS i command you to meet the PRESIDENT today and not tommorow and surrender your resignation and expose all the rot which is going on in zccm-ih and report all the wrong doing of this crook MANANSHIKU and his minions at zccm-ih.There is nothing hidden from the lord.Ask forgiveness from the lord and start praying hard for the betterment of the people in the copperbelt so that they can forgive all the ills of the loot which has been going on for far to long.Te lord is ommnipotent,omnipresent,ommnicresent.This is the only chance you have for repentence.The lord died for our sins.Like our MMD president says Zambia shall be saved,ask Mananshiku to follow his mentor not in words but in deeds.IN JESUS NAME.
its easy to manufacture cement if you already manufacture quicklime. its a good move because mines have scaled down on buying quicklime which puts pressure on ndola lime and other industries in the same business.
$600 million is not much as the debt to equity ratio is already very low for ZCCM-IH
Why not build a power plant? the new cement plant will/might not run if the power issue is not resolved.
Building a power plant with the new cement plant will help people in Zambia.
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