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The Zambia Development Agency (ZDA) says it has handed over the Investment License to China Zambia Petrochemical Corporation, a Special Purpose Vehicle established by the Industrial Development Corporation (IDC) and Fujian Xiang Xin Corporation (FJXX).
IDC Chief Executive Officer, Cornwell Muleya, said the handover marked a major milestone in the development of a US$1.1 billion crude oil refinery and integrated energy complex to be constructed in Ndola.
Speaking at the handover ceremony in Lusaka on Tuesday, Muleya stated that the event followed the Memorandum of Understanding signed on July 21, 2025, between IDC, FJXX, and ZDA during the Invest Zambia International Conference.
He said the issuance of the Investment License signified the transition of the project from preliminary agreements to active implementation.
“The planned refinery will process three million tonnes of crude oil per year—equivalent to approximately 60,000 barrels per day—sufficient to meet Zambia’s entire current national fuel demand while enabling increased participation in regional export markets,” Muleya stated.
He announced that ground-breaking is scheduled for the fourth quarter of 2025, with the first phase expected to be operational in 2026.
“The project includes comprehensive skills-transfer and certified training programmes designed to build a highly capable local workforce with expertise in advanced petrochemical operations,” he stated.
Muleya said the integrated complex would also act as a catalyst for downstream industrial growth, incorporating LPG bottling, bitumen production, and lubricants blending. Additional spillover investments are anticipated in storage infrastructure, rail upgrades, and feedstock supply for manufacturing plastics, fertilizers, synthetic materials, and asphalt.
He added that Small and Medium Enterprises (SMEs) are expected to benefit significantly through opportunities in logistics, maintenance, catering, and specialised support services.
Muleya said the refinery was poised to strengthen Zambia’s energy security and self-sufficiency by reducing dependence on imported refined petroleum products, lowering foreign-exchange outflows, and ensuring a more stable and predictable fuel supply.
“The complex will serve as an anchor for the emerging Ndola Industrial Zone and will further advance the country’s Vision 2030 industrialisation aspirations. Today’s handover of the Investment License marks a decisive shift from commitment to execution,” he said.
Huang Tieming, Chairperson of Fujian Xiang Xin Corporation (FJXX), assured that with more than two decades of industrial experience, the firm was committed to deploying advanced engineering technologies that would deliver a world-class refinery for the benefit of the Zambian people and the broader region.
“FJXX is honoured to advance this project into its implementation phase in partnership with the Government of Zambia through IDC,” he said.
Earlier, Albert Halwampa, Director-General of ZDA, said the issuance of the Investment License reflected the bold, future-focused spirit of Zambia’s investment agenda.
“It highlights the strength of partnerships that mobilise catalytic capital and expand opportunities for Zambian citizens,”Halwampa said.
He added that the milestone reaffirmed that Zambia was open for high-impact investments that would shape the nation’s economic future.
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