Lsk firm plans to invest $72m in Chibombo

Central Province permanent secretary Chanda Kabwe says a Lusaka based company has announced its plans to invest $72 million in a Paprika production and processing plant.

In a statement, Kabwe said investors were been attracted to invest in the area due to the good investment environment created by President Lungu and the investment expo that was held in the province last year

“Green Crop Field Investment Limited has announced plans to invest US$72 million in the Paprika production and processing in chief Liteta’s area in Chibombo District. The private company intends to establish a Paprika plantation as well as a processing plant on a 6,000 hectares land in Kakoma ward. Apart from Paprika, the Lusaka based company would also be involved in the growing of Stevia and Marigold at the site once the project is approved by relevant government ministries and institutions,” Chanda stated.

“The investment by the Lusaka based company is a demonstration of his excellence President Edgar Lungu’s visionary leadership which has created conducive environment for investment. The project also fit well in the country’s 7th national development plan which is promoting private investment for economic development. We are equally glad that Green Field Crop Field Investment Limited is coming in our province following a successful 2018 investment forum and expo which was aimed at unveiling investment opportunities in different sectors in our region.”

Chanda disclosed that the $72 million worth of investment was part of the $432 million that the company wanted to invest in more than 80,000 hectares of land

“The $72million is part of the $432million that the farm wants to invest in more than 80,000 hectares depending on the availability of land across Zambia. The project has been necessitated by the friendly investment environment in the country coupled by the demand for Paprika on the World market. If approved, the project would also bring electricity to this remote part of the district as well as road infrastructure,” stated Chanda.

“There is hardly doubt that the plantation and the processing plant would significantly improve the household economies of the local people and contribute to the economic development of the district as a whole. As Provincial Administration, we are inspired and grateful to the president for his guidance and pledge to continue to attract investment pledges and we would like to assure him that we will remain committed to implementing friendly investment environment as enshrined in the 7thNDP. We have since recommended for a land area of development plan and strategic environment impact assessment as per requirement under section 21 of the urban and regional planning act of 2015. The SEA is inevitable in view of the fact that the proposed land of the local farmers grazing land,” Chanda said.

         

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