The Citizens Economic Empowerment Commission has advanced a loan worth 1.4 million kwacha to KUMIL ENERGY Limited a local based company to carry out a feasibility and environmental impact assessment for the development of a renewable energy project.
The project seeks to produce fuel ethanol from sugar can and will be set up in Mwansabombwe District in Luapula province on a 30 thousand hectares plantation.
KUMIL ENERGY Limited has hired V.T.T a quasi-government agency of FINLAND, to undertake the study expected to be concluded in the next six months time.
The planned project will cover public infrastructure, agriculture, real estate and the development of an industrial Ethanol plant that will be produce at full capacity 20 million litres of fuel grade ethanol and generate 9 mega watts of Power of biomass power.
It is also hoped that the plant will further produce carbon dioxide gas which will be purified and then sold as food grade to bottling companies for use in carbonated drinks.
And speaking at the handover ceremony monitored by ZBT, CEEC Director General, LIKANDO MUKUMBUTA, said that it was critical that Zambians are supported to fully participate in the economy at all levels and in all sectors, including strategic sectors such as mining and energy.
Mr. MUKUMBUTA added that if Zambia is to fully benefit from its resources, local citizens should not only serve as employees in key industries but all participate in ownership so that profits can be retained in Zambia to grow the economy faster and to register reduction in poverty.
Mr. SIMON BOTA, who is KUMIL ENERGY CHAIRMAN, said that his company is responding to the government call for the private sector to speed up industrialization and create jobs for Zambians especially in rural areas.
He hopes that by pioneering the blending of ethanol into petrol, the pump price of fuel would reduce in Zambia and make it competitive within the Southern African region.