FQM to spend US$500 million on the Kipemba project in Zambia

12 November 2014

First Quantum Minerals (FQM), a mining company based in Zambia, is planning to spend US$500m on constructing facilities on 1,000-hecatres in the Kipemba area.

According to the Solwezi Municipal Council, the company is planning to develop facilities that include a world-class residential and commercial area, and an industrial park. A shopping mall to be built by Elliot Properties of Ndola is also planned.

Solwezi Town Clerk Ronald Daka has said that the development is remarkable. These projects will open up planned integrated development in Kipemba town and there were many other projects under way.

FQM was also planning another 250-hectare Kabitaka residential and commercial area development project costing US$100m. Many of the facilities including a regional shopping center, hotel and houses were expected to be completed in third quarter of 2017.

At the present, many other facilities, including a six million-litre water storage facility, 366 houses, primary school, and a sewerage system have been completed.

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