Defense Minister AMBROSE LUFUMA has clarified that the 15- billion dollars investment commitment from China will finance the setting up of the biggest Copper Smelter plant in Africa, development of a green field copper mine, solar power and electric car assembly plants.
Mr LUFUMA says the money will also finance a fertilizer plant, value addition factory gas station and fuel storage plant alongside investments to enhance production of maize, rice, beans and cassava.
Speaking when the China Asia Economic Development Association paid a Courtesy call on him at his Office in Lusaka today, Mr LUFUMA said the committed funds are meant to be released over a period of five years.
Meanwhile China Asia Economic Development Association Vice President Dr WANG HAIPENG said the signed Memorandum of Understanding on transport and logistics with ZNS is looking at the new mines which will need cargo transportation.
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