NAPSA TO LEND $200M TO INDIAN-OWNED MAAMBA COLLIERIES

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.

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