Operations will soon resume at Kabwe’s Zambia-China Mulungushi Textiles Joint Venture (ZCMT-JV) following a 12-year lease of the textile firm to the Mohammed Enterprises Tanzania Limited (MeTL) Group. According to State House, the project will entail investing a total of US $ 59 million in the next three years in the existing plant and in denim plant with a 20 million meters production capacity per annum and has targeted to create 2,000 jobs.
The new investor will in the next three months assess the condition of the machinery at the plant, before resuming operations at the textile plant. The deal was signed between Rose Salukatula, vice-board Chairperson, ZCMT Joint Venture and Gulan Dewji on behalf of MeTL Group and has an option for renewal after the initial 12 years have elapsed.
