On November 1st, the Ground-Breaking Ceremony for the Construction of the United Capital Fertilizer Zambia Company Limited was held in Lusaka. H.E. Vice-President Nalumango, Ambassador Li Jie, Zambian ministers and members of Parliament attended the ceremony.
Ambassador Li noted in his speech that the project is a very important part in the industrial and agricultural cooperation between China and Zambia. In recent years, the cooperation between China and Zambia in various fields has already developed comprehensively and rapidly, and achieved fruitful results. China has committed to using the resources and technologies to provide assistance to Zambia’s grain production and exports of agricultural products. The production and application of fertilizers will greatly increase the productivity of agriculture, bring about more benefit to the farmers, create more jobs for Zambians and promote the development of agriculture of Zambia. The Chinese government is willing to continue to encourage capable and credible enterprises to invest and develop their businesses in Zambia to boost the practical cooperation between China and Zambia.
Vice-President Nalumango noted that the contruction of the project, which will reduce the cost of agricultural production, is another milestone in the practical cooperation and the friendship between Zambia and China. Zambia stands ready to deepen practical cooperation with China in various fields. The new administration of Zambia attaches great importance to the economic transformation and international cooperation. Zambian government will maintain an open attitude towards foreign investment in various fields in Zambia. The government will endeavor to expand the market access and create a good business environment.
Ambassador Li and Vice-President Nalumango jointly laid the foundatuion stone of the project. The United Capital Fertilizer Zambia Company Limited is a subsidary of Wonderful Group of Companies Linmited with a total investment of $308 million. It is envisaged to make an annual output of 200,000 tones of fertiliser, create 1,100 direct jobs, and expected to reduce the price of fertiliser by 50 percent when commissioned after a 18-month construction period.