ZCCM-IH has announced that it has signed a Shareholders’ Agreement with China Machinery Construction Group Limited also known as SinoConst for the development of a cement plant.
The project will be developed under the incorporated Joint Venture Company to be called Central African Cement Limited.
Under the Shareholders’ Agreement entered into by ZCCM-IH and SinoConst, ZCCM-IH shall hold 35% of the shares in CAC while SinoConst shall hold the remaining 65%.
The details are contained in the new ZCCM-IH 2018-2023 Strategic Plan released this week.
Last year, President Edgar Lungu launched a US$548m cement plant project to be built in Ndola by the government and China’s Sinoconst.
The project have a cement production capacity of 5000t/day and will use two 20MW captive coal-power plants.
And ZCCM-IH has revealed that it has intentions to diversify into the agriculture sector during the new strategic plan period.
The company says it will use its 2000 Hectares of land in Lufwanyama where no farming activities have been undertaken thus far to venture into agriculture.
It says it will be looking to partner with an investor in the agricultural sector to develop the farm.