Zambia: ZCCM-Investment Holding, an investment company owned by the Zambian government, says that it will be the junior partner in a cement plant that it is planning to build in a joint venture with China Machinery Construction Group Limited (SinoConst). ZCCM will hold 35% of the joint venture, Central African Cement, and SinoConst will hold the remaining 65%. The US$680m project was announced in early 2018.
ZCCM also announced that its subsidiary, the Ndola Lime Company, was continuing to be in ‘distress.’ It said that its board was considering its options. The lime producer has reportedly suffered from liquidity problems and low production due to old equipment.
