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ZAMBEZI Oil Transport BOUGHT For US$2.5m
A LOCAL oil marketing company, Mashallah Investment Oil Company (MIOC) has acquired former Zambezi Oil Transport (ZOT) depot in Ndola at a cost of US$2.5 million.
Former ZOT depot was till the time of purchase operating as Samfuel Limited, the company which was using the facility under short-term lease.
MIOC chairman Kelvin Sampa said in Ndola the company is looking forward to bulk selling of their fuel across the country.
“Our company has bought the depot whose capacity is a million litres at a cost of US$2.5 million,” he said.
Mr Sampa said oil marketing companies will be the end users of the facility.
He said the increase in mining companies in the country requires supply of fuel to meet the high demand.
Mr Sampa said there are a number of filling stations being constructed by oil marketing companies (OMC) resulting from high demand of the product.
“Fuel plays a major role in the economy of Zambia, we hope to contribute positively to the development of the country, not only by distributing and supplying of fuel, but by employing Zambians,” he said.
He said the population of Zambia has increased and that the country requires more fuel storage facilities.
MIOC will create 30 jobs once operational in the next few weeks.
A check at the depot found workers making checks on the loading and off-loading bays.
On storage, Mr Sampa said 750,000 cubic litres tank is for gasoil and 250,000 cubic litres tank for Jet A1.
Mr Sampa said competition is favourable in the OMC sector.
He appealed to government to play a role to help local investors engage in business to help boost their activities.
“Most of foreign investors externalise profits, while Zambians have to re-invest back into the economy, hence the need for support,” he said.
On investment pledges, Mr Sampa called on Zambia Development Agency to cross-check whether pledges are being honoured.
“Some bogus investors are hindering Zambian investments by making pledges of some sectors,” he said.
Posted by
NGOSHE PA NKOLOKO
December 7, 2011 at 10:27 am
30 new jobs to be created………….hell no…what is this …..?
Grey Mbewe
December 7, 2011 at 1:02 pm
Ngoshe it makes a difference. How many have you employed yourself. Muletasha nangu mukwete chilishina cha nsoka.
forget the 30.
December 7, 2011 at 1:24 pm
why zambians like to trivialise issues is inexplicable. A 2.5 million dollar investment by a local (s). A standing ovation is in order. Lets see how the government wil aid these guys. A ca tax exemption wouldn’t be a bad start seeing how we treat foreigners in the name of conducive investment environment
Motherofthree
December 7, 2011 at 1:40 pm
Who is this Kelvin Sampa is it the young man who was MMD before 20th sept 2011,
NGOSHE PA NKOLOKO
December 7, 2011 at 1:46 pm
iwe mbewe i can i tasha like am the the one who is getting employed……..ngoshe doesnt asked why but strikes….
Chief Consultant
December 7, 2011 at 4:57 pm
ka company ka kwa R.b nabana bakwe
Phill
December 8, 2011 at 12:24 pm
It ka company ka ba somalian too much of them in ND, probably pirate’s money.
Phill
December 8, 2011 at 12:25 pm
It’s ka company ka ba somalian too much of them in ND, probably pirate’s money.
R.I.P. Dr. Socrates
December 8, 2011 at 2:25 pm
30 jobs multiplied by a minimum of one wife, 5 children, 3 ATM’s, 12 extended family members is not a joke. In Zambia one employed person looks after more people than the corrupt NAPUSA, which is supposed to be a statutory body that KK introduced to guarantee social security to all workers and pensioners.
Tike Myson
December 9, 2011 at 12:21 pm
Its to close to the road side,ECZ shd shut it down for safety reasons,take the plant some where else…..bafikala!
Amake Boyi
December 9, 2011 at 4:52 pm
Which Kelvin Sampa is this one. Is it that Proprietor for NGO called NICA(National Initiative for Citizens Awareness. The same RUPIAH BANDA campaign songbird? now defected to PF. which Kelvin Sampa is this Chairman now?