A Lusaka based company has expressed interest in investing US$72 million in Chibombo district of Central Province.
Central Province Permanent Secretary (PS), Chanda Kabwe, has confirmed the development in a press statement made available to ZANIS in Kabwe today.
Mr. Kabwe said Green Crop Field Investment Limited has announced plans to invest US$72 million in a Paprika Production and Processing Plant.
The plantation will sit on a 6, 000 hectares piece of land in Liteta chiefdom of Chibombo district.
He said the US$72 million is part of the US$432 million that the firm is planning to invest in more than 80, 000 hectares of land depending on availability across the country.
He said the Lusaka based private company intends to invest in growing Stevia and Marigold once the project receives government approval.
Mr. Kabwe added that the investment is one of the many inquiries the province has received after the Central Province investment forum and expo which was held in the last quarter of 2018.
The PS added that the project resonates well with the country’s Seventh National Development Plan (7NDP) which is promoting private investment for economic development.
He described the US$72 investment inquiry as a demonstration of President Edgar Lungu’s visionary leadership which has created a conducive environment for investments.
“We are equally glad that Green Crop Field Investment Limited is coming in our province following a successful 2018 investment forum and expo which was aimed at unveiling investment opportunities in different sectors in the region,” he said.
He observed that if approved, the project would also bring other auxiliary benefits such as electricity and improved road infrastructure to the remote part of Chibombo district.
Mr. Kabwe further stated that the provincial administration has since recommended the land earmarked for the project for Land Area Development Plan (LADP) and Strategic Environmental Impact Assessment (SEIA) in line with Section 21 of the Urban and Regional Planning Act of 2015.
He stressed that the SEIA is inevitable because the proposed land is part of the local farmers’ grazing land.
He expressed confidence that the Paprika Production and Processing Plant has the potential to significantly improve the household income of the local people and contribute to the economic development of the district as a whole.