Mining, chemical firm plans $500 million investment

UNIVERSAL Mining and Chemical Industries Limited (UMCIL) plans to invest US$500 million to boost production at the plant for the next three years.
The investment is expected to create over 6,000 jobs by 2019.

UMCIL executive technical director Julius Kaoma said the money to be invested next year is in addition to the US$500 million that has already been pumped in the organisation from 2004 to date.

In an interview, Dr Kaoma said the investment will enable the firm to increase its range of products.
“We have invested more than US$500 million just to have an integrated plant. We are intending to invest another US$500 million in our expansion programme for …

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