Zambia’s competition body has approved plans by a Chinese company to set up two cement plants in the country, saying this will enhance competition in the sector, the Zambia Daily Mail reported on Friday.
Recently, out-going Chinese Ambassador to Zambia Li Qiangmin announced that a Chinese company will soon establish cement plants in the eastern and northwestern provinces of Zambia at a total cost of US$500m.
The Competition and Consumer Protection Commission (CCPC) said the establishment of the two plants was welcome, adding it will not only enhance competition but boost the local economy.
Brian Lingela, the CCPC consumer and public relations director, said the cement market currently remained much unsaturated with lots of room for new players to take advantage of the massive untapped potential.
"The intended investment in the two companies will not only likely spur domestic competitiveness and afford consumers the best price from the market, but also enhance consumer choice." he was quoted as saying by the paper.