Nchimunya Muganya
9 January 2012
THE Government has started talks with the Chinese authorities in a bid to revamp operations of the closed Zambia-China Mulungushi Textiles (ZCMT) in Kabwe, jointly owned by the two countries.
Commerce, Trade and Industry Minister Bob Sichinga said the two governments were now engaged in serious talks over the matter.
He said the Government would put in place measures to facilitate the reopening of the Zambia-China Mulungushi Textiles which was closed due to under-capitalisation.
Mr Sichinga said ZCMT was a source of great concern to the Government and that once the company was re-opened, it would increase Kabwe’s economic activities and create more job opportunities for local people.
“We are currently holding active talks with the Chinese government on the future of the textile firm as you know it’s a partnership and this is in collaboration with the Ministry of Defence and Ministry of Commerce.
“We are engaged in the background talks but once we conclude, we will surely communicate the outcome to the Zambians,” he said.
The Government is committed and would ensure that the factory is recapitalised, thus keeping up with the world’s technological trends.
The company was closed in 2008 and the Zambian and Chinese governments hold 66 per cent and 34 per cent shares respectively.
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