ZAMBIA, CHINA INJECT OVER K14 MILLION INTO MULUNGUSHI TEXTILES
…….as ECL says the funds are meant to bring more value to the company in the short and long terms
The Governments of Zambia and China have injected over K14 million into Zambia-China Mulungushi Textiles Limited aimed at supporting operations of the Ginnery.
The Zambian government has contributed K10 million while K4.5 million has been invested by the Chinese government.
Meanwhile, His Excellency President Edgar Chagwa Lungu said in a speech read on his behalf by Ministry of Defence Permanent Secretary Dr Felix Phiri in Kabwe today that the move is in honour of the first Republican President, Dr Kenneth Kaunda.
“This first day of July, 2021 signifies a joyful day, as it does not only rekindle our memories about our strong friendship with the two great leaders (Dr Kenneth David Kaunda and Chairman Mao Zedong), but also bring a message of hope as we handover these cheques of $200, 000 from the People’s Republic of China and K10, 000, 000 from the Republic of Zambia to support the operations of the Ginnery,” he said.
“We are doing so in keeping up with the great vision of our two great leaders and in honouring the memory of Dr Kenneth David Kaunda. The money being injected into the operations of the company is intended to help bring more value to the company in the short term as well as to the country in the long term. I therefore, call upon management to guard this capital jealously so that we make meaningful strides in revamping production and enhancing the livelihoods of our people.”
Meanwhile, Chinese Government Representative Mr Yitong Yang said China is happy to be part of the move.
Mr Yang is optimistic that the move will go a long way in enhancing the ever growing relationship that exists between the two countries.
And Central Province Permanent Secretary Mr Bernard Chomba has applauded the Head of State for the kind gesture.
Mr Chomba said the PF government is walking the talk by not leaving anyone behind.
“…..the awakening of this mega factory will create numerous opportunities not only in terms of employment but also provide multiple opportunities in sectors of Agriculture and Transport,” he said.
“We are witnessing the fruits of the strong leadership and friendship between the two great countries of Zambia and China, which was begun by our great and visionary leaders Dr Kenneth Kaunda and Mao Satung.”
Credit: Smart Eagles.
