ZAMBIA Sugar Plc. has
commissioned its US$80 million product alignment refinery plant, with President
Edgar Lungu assuring government’s desire to prioritize industrialization as a
vehicle for economic growth by encouraging investment in value addition to
primary materials.
And the President has
said he was happy at the level of investment in the manufacturing sector
because it directly responded to Government’s policy of ensuring that Zambia
became a manufacturing hub for the region.
President Lungu said
Government remained committed to creating a conducive and enabling environment
for the private sector investment to flourish.
Speaking when he commissioned the Zambia Sugar product alignment and refinery plant in Mazabuka on thursday, the President said the Zambian government will continue with its mandate to create more sustainable jobs for the people through conducive environment for the private sector.
Speaking when he commissioned the Zambia Sugar product alignment and refinery plant in Mazabuka on thursday, the President said the Zambian government will continue with its mandate to create more sustainable jobs for the people through conducive environment for the private sector.
"You agree with me
that developing a nation requires concerted efforts by every citizen. One of my
Government’s mandates is to create more sustainable jobs and wealth for our
people. Therefore, I commend you for undertaking this important project because
it will contribute to the economic development of the nation."
He said he was happy with the consistency shown by Zambia Sugar through continuous improvement to the performance of the company
as well as continued expansion to the company's infrastructure.
He said he was happy with the consistency shown by Zambia Sugar through continuous improvement to the performance of the company
as well as continued expansion to the company's infrastructure.
President Lungu said he
believed that Zambia could be a manufacturing hub not only for sugar but a wide
range of products.
He said Government through the Ministry of Commerce, Trade and Industry was finalizing Zambia's national industrial policy and the country's investment promotion strategy which would attract more investment once implemented.
He said Government through the Ministry of Commerce, Trade and Industry was finalizing Zambia's national industrial policy and the country's investment promotion strategy which would attract more investment once implemented.
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| President Edgar Lungu officially opens the refinery plant. |
"The investment by Zambia Sugar underlines its commitment to the economic growth and prosperity of Zambia, and underlines itself strongly with the Government’s desire for greater levels of direct investment.
"In so many ways, Zambia Sugar meets the benchmark of a good investor that the Government desires in the agriculture and manufacturing sectors," he said
The President encouraged other players in the private sector to emulate Zambia Sugar in supporting the Government’s economic agenda.
Meanwhile, Zambia Sugar
Group managing director Gavin Dalglish said the plant would increase overall
sugar production from 420,000 to 450,000 tonnes of sugar per annum.
Mr Dalglish said US$60 million out of the US$80 million syndicated financing was sourced locally.
"We have become a significant player in the social-economic development and empowerment of the Mazabuka district and to the national economy," he said.
Mr Dalglish said US$60 million out of the US$80 million syndicated financing was sourced locally.
"We have become a significant player in the social-economic development and empowerment of the Mazabuka district and to the national economy," he said.
Mr Dalglish explained
that the investment underlined Zambia Sugar's strategy of focusing on
growth within its domestic and regional markets.
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