An Indian firm plans to set up a Steel Processing Plant in Lupososhi district with an initial investment of 15 Million United States Dollars.
Olive Steel Limited also estimates to create about 200 direct jobs.
Senior Chieftainess Chungu has since allocated 60 hectares of land to the devloper.
This came to light during a stakeholders Environmental Impact Assessment meeting held in Lupososhi.
Olive Steel Zambia Limited Director Kalyana Tammana disclosed that the availability of raw materials like Iron ore and Manganese has prompted the investment.
Mr. Tammana added that improved road network and connectivity to the electricity grid will ease the setting up of the business.
And Lupososhi Constituency Member of Parliament EMMANUEL MUSONDA expressed confidence that the development will spur economic activities in the recently established district.
Senior Chieftainess Chungu, who spoke through a representative, said the traditional leadership will work with the investor and government to ensure that the project is a success.
She said the traditional leadership will also work to protect the interest of the local people. ZANIS
