Zambia’s state investment firm, Zambia Consolidated Copper Mines (ZCCM) Investments Holdings (IH) said this Wednesday it has partnered with Chinese-owned \u200bWonderful Group to revive a near-century-old industrial-scale \u200clime and cement production facility in the country’s Copperbelt region.<\/p>\n
ZCCM-IH and Wonderful Group will develop and operate the integrated lime \u200band cement production facility through a new \u200bjoint venture vehicle named Ndola Lime Limited.<\/p>\n
The joint \u2060venture will be backed by $30 million of new \u200binvestment from Wonderful Group, ZCCM-IH said in a statement.<\/p>\n
The \u200bmove is meant to restore the 95-year-old facility to supply critical inputs to Zambia’s copper, construction and agricultural sectors, after operational \u200bdifficulties at the facility led to insolvency in \u200b2018.
\nThe facility’s revival will be implemented in three phases, with \u200cthe \u2060first phase focused on the construction and commissioning of a lime production plant with a capacity of 600 metric tons per day.<\/p>\n
The second phase will deliver \u200beither a cement \u200bprocessing plant \u2060or a second lime production plant, ZCCM-IH said, and the third phase will \u200bbe further expansion based on market conditions.
\nWonderful \u200bGroup \u2060will hold 55% of Ndola Lime through a $25 million equity contribution and a $5 million shareholder loan.<\/p>\n
ZCCM-IH will hold \u2060the \u200bremaining 45% interest via the \u200bcontribution of operating assets and the write-off of $9.8 million of historic debt.<\/p>\n
–Reuters–<\/p>\n","protected":false},"featured_media":28329,"template":"","meta":{"_acf_changed":false},"news-type":[44],"class_list":["post-35604","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-finance","entry"],"acf":{"short_description":"The joint \u2060venture will be backed by $30 million of new \u200binvestment from Wonderful Group, ZCCM-IH said in a statement.","published_date":"","news_description":"The joint \u2060venture will be backed by $30 million of new \u200binvestment from Wonderful Group, ZCCM-IH said in a statement.","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/35604","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":1,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/35604\/revisions"}],"predecessor-version":[{"id":35605,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/35604\/revisions\/35605"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/28329"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=35604"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=35604"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}