Zambia’s state-owned mining enterprise, ZCCM-Investment Holdings, is venturing into eucalyptus production, chief executive officer Pious Kasolo has announced. Kasolo said the eucalyptus production project will be established in Muchinga.
“Though our company’s core assets are in the mining sector, we are making an investment in agriculture, starting with production of eucalyptus trees as it has the potential to spin-off many other business,” Kasolo said.
According to him the venture will boost Zambia’s capacity for biomass, biofuel and fertiliser production.
“This will make a huge contribution to the economic transformation of Zambia,” he said.
Kasolo said the company will relentlessly pursue investment opportunities in the agriculture sector. This is consistent with President Edgar Lungu’s administration which made agriculture the center of economic growth.