The Zambian government has launched the US$500 million Simona Group Building materials industrial park in Lusaka to produce cement and pan building materials for both the export and domestic markets.
The Building Materials Industrial Park was launched on behalf of President Edgar Lungu and is owned by the Sinoma Group.
The investment is expected to create 3000 direct jobs for local people.
President Lungu affirmed that the government is committed to ensuring that the country remains an attractive investment destination and will continue to welcome new investments in the economy in order to grow it further and get closer to realising vision 2030.
A recent report by Frost & Sullivan indicates that a lack of infrastructure within Sub-Saharan Africa economies has continued to hamper economic growth and hinder the continent’s drive to be globally competitive and eradicate poverty. However, change is on the way.