Chinese group (CNMC)’s US$193 million tax /charge payments


CHINA Non-ferous Metal Mining Corporation Limited (CNMC) group has to date paid a total of US$193 million in terms of taxes and other charges to the Zambian Government.

This has also resulted in the CNMC Group creating more than 12,000 job opportunities in the economic zones across the country.
CNMC Group vice-president Sun Jiaun said this during the Zambia International Construction Materials and Light Industries Products Trade Fair at the Lusaka East Multi-facility Economic Zone (MFEZ) at the weekend.
The forum is one of the major milestones taken to implement and accelerate infrastructure development of the Zambia-China Economic Trade Cooperation Zone (ZCCZ) and further deepen the cooperation between the two countries in various economic areas.
Zambia is one of the most important regions in CNMC’S global investment operation and development.
Mr Sun said the group had made considerable progress in terms of infrastructure development between china and Zambia.
He said at present CNMC had invested US$130 million in terms of infrastructure development in the zone, adding that the Group had 14 subsidiaries in Zambia, with total investment amounting to $2 billion having created 12,500 job opportunities for the local people.
CNMC is the biggest Chinese investor in Zambia and is in charge of the development, construction and management of ZCCZ.
ZCCZ is made up of the Chambishi MFEZ on the Copperbelt and Lusaka MFEZ according to the master plan.
The mining group vice-president said CNMC had made progress in developing the area so much that the standard workshops, multi-functional airdome and other operation facilities were available at the zone.
The zone aims to become the construction material industry, modern logistics, warehouse centres, high-grade residential area, and city centre and to become the corporation’s headquarters.
To date ZCCZ has invested $150 million, settled 27 enterprises, attracted investment nearing $1.3 billion and has created nearly 7,000 job opportunities.