CommunityDevelopmental

UAE-based company to invest in Mushindamo

By JACKSON MAPAPAYI  

A UNITED Arab Emirates  (UAE) company  ‘Meritus Development Company’ intends to invest in Mushindamo  by setting up a fuel terminal for bulk storage among other investments.

The multimillion dollar  investment will be set up in Kalindi area near the Kipushi border.

This came to light during a full council meeting when the Council Secretary, Pamela Zulu, presented her report.

Ms Zulu disclosed that the company showed its interest by applying  for land last year where it intends to put up a fuel terminal for bulk storage for onward distribution,  a transit five star hotel,  offices for associated and support business  as well as housing units.

She however said the previous council agreed to have the investment in the area under the Public Private Partnership ( PPP ) arrangement.

She said in the agreement, the local authority will own the land which will be leased to the company for 15 years.

She said the 10 hectares of land has been costed at USD120,000.

She said during the 15 years of operations,  the council will be getting a 10 percent from the net profit annually.

“It’s a PPP arrangement so that after 15 years, we can review the agreement or we part ways if we don’t see any benefits,” said Ms Zulu.

She revealed that the company also intends to put up a skills centre in the area.

“And if this works out, meaning the district is likely to have two skills training centres,” she said.

She however indicated that the Memorandum of Understanding ( MoU ) is yet to be submitted to the Ministry of Justice.

And Mushindamo council chairman Peter Ilunga said the plan is progressive as it will change the face of the district.

“This is what we want to see in our district so that our people can benefit,” he said.

Meanwhile,  Kalilele ward councilor Gladys Kashimoto suggested the need to engage a private consultant for transparency and accountability sake.

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