ZDA and China De Jin Xin Limited Sign US$170 Million IPPA for Cement Plant in Chilanga
The Zambia Development Agency (ZDA) has signed an Investment Promotion and Protection Agreement (IPPA) with China De Jin Xin Limited to construct a US$170 million cement manufacturing plant in Chilanga District.
The deal is expected to significantly boost Zambia’s economy, creating thousands of jobs and improving industrial capacity.
At the signing ceremony, ZDA Director General Albert Halwampa expressed his satisfaction with the project, which has already seen an investment of over US$70 million and the creation of more than 500 jobs during the construction phase.
He emphasized the government’s commitment to supporting the project through aftercare services, resolving any potential bottlenecks, and providing continued guidance to ensure the success of the investment.
“We are pleased with the progress made so far and assure the investor of our unwavering support as they continue with this significant project,” Mr. Halwampa said. “Zambia’s strategic position as a regional trade and investment hub, coupled with its peaceful environment and stable policies, makes it an attractive destination for investors. I encourage China De Jin Xin Limited to cater to both local and international markets.”
China De Jin Xin Limited’s Executive Director, Mr. Zhao Jianbao, highlighted the company’s confidence in Zambia’s investment climate. He revealed that the plant will create 1,000 jobs during the construction phase and provide 500 permanent jobs once operational.
Mr. Jianbao also praised the ZDA and government departments for their assistance and the IPPA, which assures them of a secure and predictable investment environment.
“This investment is a testament to Zambia’s positive investment climate. We appreciate the support provided by the government and the ZDA in making this project a reality,” Mr. Jianbao remarked.
The IPPA was officially signed at the cement plant site in Chilanga, with both parties committing to furthering Zambia’s industrial growth and job creation. The project is expected to have a significant impact on Zambia’s construction industry and is a key part of the country’s long-term strategy to diversify its economy.
