ZCMT to create 2000 jobs-Sata
Lusaka, August 1,2014, ZANIS—President Michael Sata says more than 2000 jobs will be crated following government’s resolve to lease the Zambia-China Mulungushi Textiles (ZCMT) facility to a Tanzanian investor.
Mr. Sata said the investor will renovate, invest in new machinery and operate the ZCMT integrated plant the project he said is a fulfillment of the 2011 Patriotic Front (PF) campaign promises.
The Head of State explained that the project will entail investing a total of $59 million in the next 3 years in the existing plant and in a denim plant with a 20 million meters production capacity per annum.
ZANIS Reports that Mr. Sata said this on his latest Facebook page today.
And Mr. Sata said cotton out grower schemes comprising at least 10,000 members will be established within Zambia in the next three years of the business activities.
He added that the project will among other things include the provision of extension services, realistic market and maintaining at least 60 percent plant capacity utilization in the next three years.
Meanwhile, Mr. Sata said government will continue to promote the revitalization and development of industry in order to create jobs and wealth for the people in line with the PF Manifesto.