Zambia’s state investment firm, ZCCM Investments Holdings, has joined forces with Chinese-owned Wonderful Group to revive a 95-year-old lime and cement production facility in the country’s Copperbelt region. The partnership will operate through a new entity called Ndola Lime Limited, backed by $30 million in new investment from Wonderful Group. Wonderful Group will hold a 55% stake through equity and shareholder loans, while ZCCM-IH will retain 45% by contributing operating assets and debt write-offs. The facility, which became insolvent in 2018, will be revived in three phases—beginning with a lime production plant capable of producing 600 metric tons per day. The next phase will add either a cement plant or additional lime capacity, while the final phase will further expand the facility based on market demand. The revival is expected to support Zambia’s copper, construction, and agricultural sectors with locally produced industrial materials.
CNBC Africa
