News

British firm to set up smelter in Chambishi

NKOMBO KACHEMBA, Kitwe
A BRITISH company, Yellow Stripe Limited (YSL) has declared interest to set-up a smelter in the Chambishi Multi-Facility Economic Zone (MFEZ) with an initial investment of US$4 million, which will create more than 250 jobs for the local people.
And another firm, Tatang Steel Limited (TSL) has invested US$1 million in the establishment of a manufacturing company which will be making steel balls for the mines.
Zambia-China Cooperation Zone (ZCCZ) corporate affairs manager Stephen Lindunda said in an interview yesterday that a number of firms have expressed interest in setting up companies in the two economic zone in Chambishi and Lusaka.
Mr Lindunda said Yellow Stripe has already been given land where it will set up smelter, while Tatang Steel Limited has already started working on its manufacturing plant.
“In total, we have 44 enterprises in the two economic zones, and  I am sure next year, the number is likely to increase. Already here in Chambishi, two firms have already expressed interest in setting up their businesses in the zone,” Mr Lindunda said.
He said the enterprises that have set up businesses in the zones have greatly contributed to employment creation in Zambia.
Mr Lindunda also said 100 jobs will be created for the local people once Tatang completes its manufacturing plant.
“For Tatang, they have already started working on their manufacturing plant and the works have advanced. They have indicated to us that they will employ 100 local people but the number is likely to increase over a period of time,” he said.

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