By BUUMBA CHIMBULU
THE Lusaka Multi Facility Economic Zone (LS-MFEZ) has announced the conclusion of a K38 million LED light bulb manufacturing plant facility to be hosted in the area by Techmasters Zambia Limited.
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According to the LS-MFEZ Corporate Affairs Manager Alice Schultz, the project was expected to create about 500 direct and indirect jobs over three years.
Ms Schultz said the project was also expected to manufacture 1,170,000 energy saving LED light bulbs for both local and export distribution.
“LSMFEZ has concluded an investment with Techmasters Zambia Limited who intend to set up an energy saver LED light bulb manufacturing facility within the LS MFEZLS MFEZ is set up to diversify the Zambian Economy, create jobs and wealth for the Country.
“The investment will contribute to the LS MFEZ growing investment portfolio currently at a total of US$1.5 billion, accounting for 101 approved companies and above 30,000 jobs,” she said in a statement.
LS-MFEZ, she said, would continue to make our Country the hub for manufacturing, taking advantage of its convenient position in SADC and surrounded by eight neighbouring Countries.
Ms Schultz pointed out that the growing industrialisation and electrification rate in Africa created a unique opportunity for Techmasters to expand its initial investment and cover the market deficit.
She announced that the LSMFEZ had plans to accommodate hardware stores and other commercial as well as residential developments which would require LED lighting.
According to her, this provided a ready market for Techmasters.
“For the next 24months the LS MFEZ wishes to focus on operationalization of all investors allocated land within the industrial area, development of its residential area and operationalization of its CBD and Eco-Green Park. All this will aid the influx of residents and operationalize the town in creation.
“We take this opportunity to encourage Zambians to explore these opportunities and take up their space within the LS MFEZ before land in its various quotas is fully exhausted,” she said.
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