ZCCM-IH gives up majority shares in Ndola Cement plant to a Chinese partner


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.


    • I hope the choncholis don’t have a mining agenda in that farmland. You see a farm, they see a Gold mine. Ask Enock.

    • This is the same Chink company that was launched in Chongwe last week…they are going to wipe up all competition and we Zambians will be dependent on Chinks in every sectors…we will be at their mercy!!

  1. This is really what I call selling your country big big big time….
    What is Zambian?
    Proper state capture!

    • 50+ after indepence tuli Ndwiii, no meaningful development let those who know how develop develop for us, at least we have 35%. If people are afraid of the Chinese let us start working and not Just drinking every 17 hrs from the office straight to clubs for beer. When are we going to think and plan development? The idea situation is to say let us have and develop our country BUT going by the current situation in our country, Exam leakages, poor work ethics, poor learning environment, low education standars, mushrooming sub stand universisties, I wonder if we will be able to design a pity latrin. My heart bleeds for my country. We need to be serious about Technology transfer and human development in Zambia. We have done well in Business and accounting training but technical training,…

  2. Nomba peanut salaries here they come,China man chimo na no.Let the government now work on working conditions for us please

  3. Soon the Country will be called Chimbia. The Chinese population just in the last 15 years has grown surpassing ten folds the population of the Indian and Pakistan settlers who migrated to Zambia before independence who set up schools and shops. What will happen 10-20 years from now at this rate? Taking over land, state companies, infrastructure development projects, externalising vast sums of money etc. whilst our youths go without jobs and turn on each other influenced by politicians.

  4. Common sense is not all that common, Hai.
    Chinese have capital, ZCCM-IH is struggling to survive. Putting up a cement plant will need lots of money and asking the Chinese to invest more is not wrong at all. The plant will be in Zambia and it will create jobs. Prices of cement will not go up the way it did when there was only one cement producing company.

    To ZCCM-IH congratulations for a job well done.

    • I do not agree with what you have said. ZCCM-IH has been making money. Not too long ago, they paid a dividend to shareholders. With this kind of decisions being made, we cannot say the company is fully Zambia owned. As it is we do not have any controlling power on what goes on in the company.

  5. Part of Euro Bond repayment agreement…Next will be giving out of huge tracks of prime land starting with NRDC. Chiefs stand your ground on proposed land policy.

  6. Its seems ZCCM-IH is giving up almost all major shareholding from its investments in different sectors recently it did so and now another. The thing is government has no money and have no leverage to negotiate with even when Zambia is our land.People have been complaining about Privatisation that happened during FTJ Chiluba’s era, there is n local owning any copper mining company etc. Though people blame HH who was just an employee of a company. In a few years time the government will be blaming another opposition or a person who will be in opposition then who might have been an employee who knows about this particular deal. When this clearly it is government giving up Zambian peoples shares in ZCCM-IH. So i think government have to be more careful next the Chinese and other foreigners…

    • Cont…will start ruling us telling us what to do and the office of President and government officials will be for formality only. Everything will be let us ask the Chinese who own our country oh sorry who own Zambia their country and we Zambians shall be foreigners in our own country

  7. If it’s in Zambia, it’s Zambian. In the USA or Dubai, they don’t complain who owns it. If it’s in the country it serves the country. Who benefits from the malls in Dubai or Zambia. Locals of course. The factories, locals of course. In Toronto Canada, the city is 70% migrants and nobody has beef with that but we have with the few chins when Paks and Pillippinos are the workers of the middle east. Any country that does not embrace globalisation is doomed to poverty coz it can never raise the capital which only moves with migrants.

    Time to be dimwitted that its only good if you own it is long gone. That mindset leads to corruption coz you think you should own rather than benefit from it.

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