A combined team of Chinese and Zambian investors is currently conducting feasibility studies in Northern Province on the possibilities of establishing a US$ 3 billion bio-diesel joint venture project.
Traditional rulers in Northern Province have expressed willingness to provide large portions of land for the project, which is likely to create employment for the local people.
Speaking in Kasama recently during a meeting with heads of Government departments attended by the investors; Commence Minister Felix Mutati said there was need to attract more investors to create job opportunities for the local people.
Mr. Mutati said Government was working hard to ensure that it creates a conducive environment for both local and foreign investment.
The Minister expressed hope that the project which is aimed at creating massive out-grower schemes for bio diesel would be well received by the province failure to which it will be moved to another province.
Delegation leader from the Private Sector Development Reform Programme, Lovemore Simwanda said Bio-mass development PLC, a Zambian company and Wuhan Kaidi holdings of China, plans to invest about US$ 3bn in the bio-fuel project in Zambia.
The investment is expected to create about 50,000 job opportunities for the local people.
He explained that the team which was targeting five districts in Northern Province was looking for land in excess of 700,000 hectors where to set up plantations for the extraction of bio-fuel.
He said the land which was being looked at was that which had been degraded through massive cutting of trees.
Chief Chitoshi and Mukupa Kaoma of Mporokoso district have expressed willingness to provide land for the Bio Diesel project if their areas are found suitable for the project.
The Chiefs told ZANIS in separate interviews recently that they were ready to sit down with the investors so that they could discuss how best the project would benefit their subjects.
They observed that they have been longing for investment which would help to improve the living standards of people in their chiefdoms.
The districts targeted are Nakonde, Isoka, Chinsali, Mporokoso and Luwingu.
ZANIS/HH/MKM/ENDS