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Prospective investors to inject over $80m

Posted in Investments, Finance & Economy

ZAMBIA - Three prospective investors have been allocated 15,000 hectares in Luswishi farm block where they will invest over US$80 million.

Xantium Dairies Zambia Limited, Luswishi Investment Zambia Limited and Hybrid Poultry Farms Zambia Limited, have each been allocated 5,000 hectares.

This was heard during a Cabinet meeting held on Monday and availed in a statement issued by Government spokesperson Chishimba Kambwili.

Mr Kambwili said Xantium Dairies will invest a total of US$18.9 million over five years in a dairy farm with 11,000 dairy cattle and a UHT milk processing plant.

Ultra-high temperature processing, or ultra-heat treatment, sterilises food by heating it above 135°C – the temperature required to kill spores in milk – for 1-2 seconds.

“The company will create 700 jobs and will operate an out-grower scheme of not less than 250 smallholder farmers,” he said.

He said Luswishi Investments Zambia Limited will invest a total of US$20 million over five years with the capacity to produce 30,000 metric tonnes of wheat per annum and create 500 jobs.

Mr Kambwili said the investor will be engaged in mixed farming of a soya/wheat rotation, livestock production, fruit tree and vegetable growing and a milling plant.

He said Hybrid Poultry Farms will invest a total of US$42 million in developing six breeding farms over five years, produce 21,840,000 eggs and 16,380,000 day old chicks annually and grow cereals for production of stock feed.

“The company will create 350 jobs and will operate an out-grower scheme,” Mr Kambwili said.

He said currently, an investor Global Plantations Limited (GPL), which was allocated 5,000 hectares in 2013 has cleared most of the land.

Mr Kambwili said the company has started producing sunflower, soya beans and irrigated wheat.

“The company has also installed a 200,000 metric tonnes capacity oil processing facility in Ndola,” he said.

February 21, 2016; https://www.daily-mail.co.zm/?p=59669