By NOEL IYOMBWA THE Industrial Development Corporation (IDC) has injected K684 million into Nitrogen Chemicals of Zambia (NCZ).IDC group chief executive officer, Mateo Kaluba said that K638.4m will be for working capital support for the production of fertiliser.Mr Kaluba said that an additional K45.6m will be injected for the procurement of a fertiliser blending plant.Mr Kaluba said the funds would help move NCZ to a self-sufficient status and enable the company to compete with the private sector in the supply of blended fertiliser.“I also expect that NCZ will be able to benefit significantly from the synergies that will be created with companies within the group such as Kawambwa Tea Company and Zamplam Limited whose plantations require blended fertiliser.“We also expect diligence in the way the resources will be deployed,” he said.He noted that IDC as shareholders and government are committed to ensuring the successful transformation of NCZ.Mr Kaluba said that measures that the company has […]
IDC INJECTS K684M INTO NCZ
