Finance Minister Situmbeko Musokotwane said Zambia, Africa’s top copper producer, was looking for investors to create industries that would process raw materials such as copper, and make some of the components used in mining which are currently imported.
"The infrastructure like roads, water and telephone lines is more or less done and the effort that is there now is to market the zone by attracting investors," Musokotwane said in a statement.
The zone is located in the mineral-rich Copperbelt.
China Nonferrous Metal Mining (CNMC), which has promoted development of the zone, plans to invest $300 million between 2010 and 2011 in projects such as the Chambishi copper smelter, its president Luo Tao said.
Musokotwane said Zambia and CNMC were developing another tax free zone in the capital Lusaka, that would host companies specializing in light engineering and international conferencing.
"The master plan has been done and we were told by the promoters of the project, CNMC, that construction is going to start after the rainy season," he said.
Musokotwane said Zambia was in talks with the government of India for a loan to improve the landlocked country’s infrastructure.
Source: Africa The Good News
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