Zambia: Zambia's state investment firm ZCCM Investments Holdings has partnered with China-based Wonderful Group to restore a lime and cement production facility in the Copperbelt region. ZCCM-IH and Wonderful Group will develop and operate the integrated lime and cement plant through a new joint venture vehicle called Ndola Lime. The joint venture will reportedly be backed by a US$30m investment from Wonderful Group, according to Reuters. The 95-year-old plant previously faced operational difficulties, which led to insolvency in 2018. Its revival will be implemented in three phases, with the first phase focused on the construction and commissioning of a lime production plant with a capacity of 600t/day. The second phase will deliver either a cement plant or a second lime production plant, ZCCM-IH said, and the third phase will be further expansion based on market conditions. Wonderful Group will hold 55% of Ndola Lime through a US$25m equity contribution and a US$5m shareholder loan. ZCCM-IH will hold the remaining 45% interest via the contribution of operating assets and the write-off of US$9.8m of historic debt.
New cement and lime project in Zambia
