Business

$52m eucalyptus plantation on cards

KALONDE NYATI, Lusaka
A US$52 million eucalyptus plantation is expected to be established by Greek investors in the country, with over 250 jobs expected to be created, Greek-Zambia Chamber of Commerce board member Andreas Vlachos has disclosed.
Eucalyptus is a high-value plant used in the manufacturing of  paper medicine and cosmetics, and is a source of biomass, among other uses.
Mr Vlachos said the land where the first nurseries will be planted has since been identified in Chilanga.
He said in an interview recently that the investor is also expected to acquire about 10,000 hectares in Mpika or Solwezi for the development of the main project.
“The company is working closely with the Zambia Development Agency (ZDA) on the project that will help unlock the eucalyptus production potential in Zambia .The company  intends to cultivate 10,000 hectares of  eucalyptus,” Mr Vlachos said in an interview recently.
The hybrid eucalyptus, which will grow within two and half years, with the plant remaining productive for 20 years, will also engage out-grower schemes to empower local communities.
The company will export essential oils while the other products will be supplied locally for the production of cosmetics, in view of the growing cosmetics production industry in Zambia.

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