NDOLA LIME has paid 40 per cent of the manufacturing cost

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Message Ven 18 Sep 2009 07:50

NDOLA LIME has paid 40 per cent of the manufacturing cost

Ndola lime pays for kiln

By Stanslous Ngosa

NDOLA Lime Company (NLC) has paid 40 per cent of the manufacturing cost of a unit of the vertical kiln and hydrator under the US$74 million recapitalisation exercise the firm has undertaken.

NLC acting general manager, Abraham Witika said in an interview in Ndola yesterday that Ndola Lime was committed to completing the project despite the global economic recession, which had delayed the exercise.

The 40 per cent translates to about $29.6 million.
Mr Witika said the project delayed between the end of 2008 and early this year because the global economic recession that affected most companies, but financial lending institutions were now willing to finance the project.

NLC embarked on the recapitalisation of the company in 2006 to replace the old rotary kiln with new energy efficient and environmentally friendly vertical kiln cement.

The recapitalisation project was aimed at repositioning the lime company on the market to meet new trends in the business economy like the rising demand for lime locally and in the southern African region.

“The response from the five local banks is overwhelming and they are willing to finance the project which is expected to be commissioned early 2011,” Mr Witika said.

Meanwhile, the firm has recorded a reduction in lime production to 300 tonnes daily from 400 in the last quarter of 2008 and early this year due to the global economic recession.

During this period, Mr Witika said Albidon Mining, Luanshya Copper Mines and Chambishi Metals Plc stopped buying quick lime while Mopani Copper Mine (MCM) had reduced its consumption.

Production had upped to 400 tonnes daily and was optimistic the demand for the product would rise when most mining companies engage in full production.

Mr Witika said exports to Malawi, the Democratic Republic of Congo and Zimbabwe had kept the firm in shape when local demand slumped during the low copper price period as demand for lime was all time high abroad.
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Message Ven 18 Sep 2009 07:54

et parmi les banques qui ont suivi le projet

la fameuse Stanbic bank dont J CHIKOLWA est le big boss..

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