The Lusaka South Multi-Facility Economic Zone (LS-MFEZ) has recently reached a total engaged investment of USD758m in 24 approved applications as of June 2016.
The announce was done by LS-MFEZ Managing Director Fortune Kamusaki while explaining that further expressions of interest from over 150 investors are being reviewed.
The total number of investors include foreign and local companies whom have also the option to sign lease agreements to finance their investments, Mr. Kamusaki added.
So far 14 out of 24 companies approved to operate at the LS-MFEZ have signed leasings totaling USD330.3m.
Among the companies with the highest volume of leasing are Zambian Breweries Plc (LUSE:ZAMBREW) with USD32.6m, Superior Milling Company and NRB Pharma Zambia Limited with USD10m, and Texila American University with USD7m.
In addition to the companies that will be operating at the LS-MFEZ, there will also be a 33 hectares (ha) land dedicated to manage the solid waste under a Public Private Partnership (PPP) agreement.
The LS-MFEZ is being developed under a five phase plan covering a total area of 2,100 ha.
The first phase started with the construction on an area of 414 ha that included upgrade of roads to ease access to the MFEZ and employed 4,800 people.
Next phases implied the construction of further 2.4 km of access and 12.4 km of new internal roads, infrastructure for high tech industries, research and development, and residential facilities totaling USD1.2b.
The Multi-Facility Economic Zones (MFEZs) were introduced to Zambia in 2005 by the Japanese Government through Japan International Corporation Agency (JICA), to attarct significant domestic and foreign direct investment (FDI).
The MFEZs are, special industrial zones for both export-oriented and domestic-oriented industries.
Zambia has to date declared six (6) areas as MFEZs and /or Industrial Parks vis-à-vis: Chambishi, Lusaka East, Lusaka South, Lumwana; and Ndola (Sub Saharan gemstones exchange) and Roma as an Industrial Parks.