By Ruth Chayinda
The Zambia Development Agency –ZDA- has issued an investment licence to China Zambia Petrochemical Energy Corporation Limited to establish a 1.1-billion-United-States-dollar crude oil refinery in Ndola.
Speaking during the handover at the Industrial Development Corporation office in Lusaka today, ZDA Director General ALBERT HALWAMPA said the project marks a key milestone in the Government’s industrialisation agenda.
Mr. HALWAMPA said the handover of the licence will now allow the Agency to provide incentives to the company to ease the cost of setting up the business.
He said this means the company will be able to import machinery and equipment without paying customs duty.
And IDC Chief Executive Officer CORNWELL MULEYA said such investments are cardinal to advancing development in the country.
Meanwhile, Fujian Xiang Xing Chairperson TIEMING HUANG thanked the Government for the support rendered to the company, adding that work will now commence following the issuance of the licence.
