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Zambia, China discuss reopening of Mulungushi Textiles
09 Jan '12
1 min read
The Government of Zambia, a land-locked country in southern Africa, has started discussions with Chinese officials over reopening of the closed Zambia-China Mulungushi Textiles (ZCMT) in Kabwe, Bob Sichinga, Minister for Commerce, Trade and Industry, has said.
ZCMT, co-owned by the two countries, was closed in 2008 due to under-capitalisation.
The Minister said the Government is engaged in serious talks with their Chinese counterparts to revive operations at ZCMT.
He added that the Government would implement measures aimed at recapitalization of ZCMT, as its reopening would create employment opportunities for people of Kabwe.
However, the talks are yet to conclude and the decision will be made known once it is finalized, the Minister revealed.
The respective share of Zambian and Chinese Governments in ZCMT is 66 percent and 34 percent.
ZCMT, co-owned by the two countries, was closed in 2008 due to under-capitalisation.
The Minister said the Government is engaged in serious talks with their Chinese counterparts to revive operations at ZCMT.
He added that the Government would implement measures aimed at recapitalization of ZCMT, as its reopening would create employment opportunities for people of Kabwe.
However, the talks are yet to conclude and the decision will be made known once it is finalized, the Minister revealed.
The respective share of Zambian and Chinese Governments in ZCMT is 66 percent and 34 percent.
Fibre2fashion News Desk - India
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