NAPSA TO LEND $200M TO INDIAN-OWNED MAAMBA COLLIERIES
President Hichilema directs NAPSA to lend $200million to an indian-owned company Maamba Collieries Limited.
Maamba Collieries Limited (MCL) is the largest coal mining company and Independent Power Producer in Zambia. It is a subsidiary of Nava Bharat (Singapore) Pte. Limited which holds a majority equity stake of 65%. The balance equity is held by ZCCM Investments Holdings Plc.(35%).
President Hichilema also ordered NAPSA to lend $300million to chinese-owned Macro-Ocean Investment Consortium is a group of Chinese Companies, headlined by Aviation Industry Corporation (AVIC International) and China Railways Seventh Group, to build the Ndola-Lusaka Dual Carriage Way.
He also directed Workers’ Compensation Fund Control Board another $200million to the project.
