Business

Superior invests $10m in milling plant

NANCY MWAPE, Sesheke
SUPERIOR Milling Company has invested US$10.5 million in setting up wheat and stock feed plant at Lusaka southern multi-facility economic zone (LS-MFEZ) that will create about 300 jobs.
Company managing director Peter Cottan said the expansion plan will help the firm provide broad range of products to become market leaders in foodstuffs and assorted stock feed for the livestock industry.
Mr Cottan said this in an interview during the opening of Superior Milling’s 40th depot here on Wednesday.
The investment in the MFEZ is phase two of the company’s current expansion of existing maize mill in Lusaka’s Chinika industrial area where it has invested K20 million to expand the plant to double current production, venture into new markets and opportunities.
“For the phase two expansion plan, we have signed an agreement with Government under the LS-MFEZ to put new mills plants. The ground breaking ceremony for the wheat mill and stock feed mill will be done this April,” he said.
The two plants under the MFEZ are expected to be commissioned in April 2016.
Mr Cottan said this development will bring competition to existing millers and help push down the price of flour and stock feed on the market.
Commenting on the high mealie-meal prices, Mr Cottan said the cost of electricity and maize are some of the factors contributing to the pricing of the commodity.
He said the Food Reserve Agency should let the market forces determine the price of maize, “The price of maize should be allowed to fluctuate; allow supply and demand to dictate the price… then you will see the benefit of bumper crop,” he said.
He said globally, countries are moving towards open markets systems.



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