Zambia signs $170 million agreement with Chinese investor for construction of cement plant

The Zambia Development Agency (ZDA) has signed an Investment Promotion and Protection Agreement (IPPA) with China De Jin Xin Limited for the construction of a US$170 million cement plant in Chilanga District, Lusaka Province.

ZDA Director-General, Albert Halwampa, speaking during the signing ceremony on November 16, 2024, expressed satisfaction with the progress of the project, which reportedly has already seen an investment of over US$70 million and the creation of more than 500 jobs during the construction phase.

“The country is currently witnessing an unprecedented inflow of investments due to good leadership, a clear vision for promoting trade, and consistent policies,” Halwampa stated.

He emphasized Zambia’s peaceful environment and its strategic position as a regional trade and investment hub.

Halwampa assured the investor of continued support, including aftercare services to resolve challenges and facilitate the project’s success.

He also encouraged the company to target both local and international markets, leveraging Zambia’s favorable location.

China De Jin Xin Limited Executive Director, Zhao Jianbao, revealed the plant would generate 1,000 jobs during construction and 500 permanent positions once operational.

“This cement plant here in Chilanga demonstrates our confidence in Zambia’s investment environment, and we are grateful for the IPPA, which assures us of the safety of our investment,” Jianbao said.

The project underscores Zambia’s growing appeal as an investment destination, with support from government agencies like the ZDA fostering investor confidence and facilitating large-scale projects.

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