Jeu 22 Oct 2009 20:45
Investments into Chambishi MFEZ rise to over US$1bn
Zambia Development Agency (ZDA) communications manager, Margaret Chimanse, has said projected investments into the Chambishi Multi
Facility Economic Zone (MFEZ) has risen to over US$1 billion from the initial US$900 million after the number of Chinese interested in the
tax free zone increased to 60.
Chimanse said so far, over US$100 million has been spent on infrastructure development such as electricity substations and roads,
excluding the US$300 million invested in 150,000 copper blister per annum - Chambishi Copper Smelter.
“The number of firms expected to be attracted to the zone is now 60 from 50 going by the way the Master Plan is being implemented,” She
said.
Chimanse said so far 8 firms have been licensed to operate in the zone with the anchor company Chambishi Copper Smelter now in full
operation. She said the 8 companies licenced so far are worth US$413 million, which includes Sino Metals Leache Zambia Limited, Sino Acid
Zambia and Fifteen MCC Africa Limited, all which are fully operational.
Other firms licensed but awaiting to begin operations in Zambia include Nonferrous Metals Exploration & Construction Limited, Golden
Honesty Africa Development Limited, Bolo Mining Investment Limited and Twapula Limited.
Government has wavered 25% customs duty on imported equipment, 16% value added tax and several other taxes for companies investing
in the Chambishi economic zone.
Preliminary data provided by China indicated that the Chambishi zone will generate in excess of US$900 million per year in turnover by
firms that will include Western investors in the industrial park initially targeted to exclusively house Chinese companies -
http://www.postzambia.com; The Post, Thursday October 22, Pg 14.
http://www.pangaeapartners.com/zambia/C ... 0%2009.pdf