Business

$500 million cement deal sealed

KALONDE NYATI, Lusaka
THE Central African Cement Company (CAC) Limited has signed a financing agreement with CBMI Sinoma to pave way for the development of the almost US$500 million cement plant on the Copperbelt.
CAC, which is a purpose vehicle of ZCCM-IH created to develop a US$480 million cement plant, will be the largest cement plant in Zambia and will create 500 jobs once completed.
During the signing ceremony yesterday, company chairman Willie Sweta said the financing agreement follows the engineering procurement and construction (EPC) contract which was signed in July.
The EPC contract and financing agreement have since been cleared by Government and entail that CBMI Sinoma will proceed to finalise the loan financing, design of the project, and operations and maintenance agreement. http://epaper.daily-mail.co.zm/

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