By MWAKA MWANSA
The Zambia Development Agency (ZDA) has granted an investment license to China Zambia Petrochemical Energy Corporation Limited (CZPC) to develop a state-of-the-art crude oil refinery in Ndola, in a landmark step expected to strengthen Zambia’s fuel security and industrial capacity.
The refinery project, valued at US$1.1 billion, is a joint venture between the Industrial Development Corporation (IDC) and Fujian Xiang Xin Corporation (FJXX), the parent company of CZPC. The investment marks one of the largest industrial undertakings in recent years.
ZDA Director General Albert Halwampa hailed President Hakainde Hichilema for his sustained efforts to promote trade and attract foreign investment, noting that such projects demonstrate renewed investor confidence in the country. “This investment reflects strong confidence in Zambia’s economic direction,” Mr Halwampa said.
IDC Chief Executive Officer Cornwell Muleya said the refinery marks a transition from preliminary agreements to concrete implementation. He described the development as a major industrial breakthrough that will contribute to national economic transformation.
FJXX Chairman Tieming Huang expressed gratitude for the government’s support and confirmed that the project is now ready to move forward. He also pledged that Zambians will be prioritised for employment opportunities during the construction phase, giving assurance of local participation in the multi-billion-kwacha investment.
The refinery is expected to improve fuel supply stability, create thousands of jobs, and stimulate growth in ancillary industries.
