Some interesting economic news that may have escaped your attention in the middle of the current political excitment!
Finance Minister Alexander Chikwanda wants Cabinet to approve a US$100m loan in order to repay another LAP GreenN loan obtained in 2011 to upgrade Zamtel. Chikwanda is apparently seeking $100m from Exim Bank of China to pay ZTE on behalf of LAP GreenN. In June 2010, theLAP GreenN acquired a 75 per cent stake in Zamtel, only to be nationalised in 2012 by PF. (Source : The Post)
Enock Kavindele recently confirmed that North Western Rail (NWR) has mobilised the US$1 billion required for construction of the 590 kilometre line project. The private sector driven project, would commence early next year in two phases, of which phase-one involved construction of a 295 Kilometre line from Chingola to Solwezi to serve the Kansanshi Copper Mine. (Source: Times of Zambia)
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