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Monday, 22 July 2013

Investment Watch (Ndola)

More good news for Ndola following recent investment in housing and electricity. The Zambia Environmental Management Agency (ZEMA) recently approved the construction of Mwekera Copper Mine; a new underground mine in Kaposhi, Ndola, by Chinese-owned Macrolink Resources Limited. According to Times of Zambia, the company intends to invest over $5 billion in the mine with an expected lifespan of 20 years.

The $5bn is cleary way off the mark. If it was true that would be most largest single investment in Zambia. We have to remember Macrolink last year was served a "default notice" by Government for being slow in taking forward the project. So it is way over the top to suggest they have $5bn to invest for amine with that lifespan. But of course it remains the case that this is excellent news for Ndola.

The other piece of news is that Varun Beverages will soon establish a Pepsi bottling plant in Ndola which is expected to become operational by the end of 2014. Apart from the new bottling plant in Ndola, the company also plans to set up a dairy plant in Lusaka which would also open next year. Varun Beverages are the producers of Pepsi, Mirinda, fruity Mirinda, 7 UP and Pepsi light.

Chola Mukanga | Economist | Writer 
Copyright © Zambian Economist 2013

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