Maravi

Local firm among 6 more eyeing NCZ

Local firm among 6 more eyeing NCZ
By Joseph Mwenda
Tue 02 Nov. 2010, 03:59 CAT

SIX more firms have expressed interest in taking over operations of the paralysed Nitrogen Chemicals of Zambia (NCZ). And the Zambia Development Agency (ZDA) has said it is still awaiting an evaluation report of NCZ assets upon which a decision of whether to privatise the parastatal or to restructure it would be made.

In an interview yesterday, ZDA acting director Muhabi Lungu said other than the Egyptian firm, six other companies, among them a local company, had expressed interest to resuscitate the Kafue-based fertiliser manufacturing plant.

“What has happened to NCZ is that it has been earmarked for privatisation but there will be a tender procedure to follow. The Egyptian firm is not the only company that’s interested in NCZ; we have offers from the Chinese, India, Germany and a local company which is run by a prominent politician in partnership with an Indian firm but I can’t give all the details now,” Lungu said.

He said the Ministry of Agriculture had contracted a private auditing firm to evaluate NCZ assets and submit a comprehensive report that would help government decide what to do with the company.

“Some companies want to become equity partners of NCZ, while some want full ownership of the company so after that report is submitted, government will decide whether to restructure it or to privatise it,” he said.

Lungu said ZDA was currently gathering information and making consultations on the future of NCZ.

Labels: NCZ, PRIVATISATION, ZDA

posted by MrK @ 3:18 PM