Tractor, agro equipment plant set

THE Industrial Development Corporation (IDC) has completed designs for the K1 billion tractor and agricultural equipment plant to be located in the Lusaka South Multi-facility Economic Zones (LS-MFEZ) to enhance productivity in the agriculture sector.

Last year, Ursus SA, a Polish firm, in partnership with the IDC signed an agreement to construct a tractor and agriculture equipment assembly plant at a cost of K1 billion (US$100 million) in the zone.

The plant is expected to help reduce the price of tractors and agro equipment by 20 percent.
IDC chief executive officer Mateyo Kaluba said the two firms have concluded key agreements that are critical to start works.
Mr Kaluba said the two parties have concluded negotiations on the shareholding and the licensing agreement, which will give the Lusaka plant the rights to assemble, sell tractors and agricultural implements to 13 regional countries within the….

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