As we promised during campaigns, I wish to inform you, that after much effort our Government has resolved to lease out the Zambia-China Mulungushi Textiles (ZCMT) facility to an investor who will renovate, invest in new machinery and operate the ZCMT integrated plant.
The project will entail investing a total of USD 59 million in the next (3) years in the existing plant and in a demin plant with a 20 million meters production capacity per annum. In addition the project will create more than 2000 jobs.
Furthermore, cotton out grower schemes comprising at least 10,000 members by year (3) of the business activities within Zambia will be established, including the provision amongst other things of: (a) extension services; (b) realistic market; and (c) maintaining at least 60% plant capacity utilization from year (3).
Our Government will continue to promote the revitalization and development of industry in order to create jobs and wealth for our people in line with the PF Manifesto. MCS- 01/08/14