Minister Matambo optimistic Ndola will return to commercial city status with govt investment in oil refinery

Copperbelt Minister, Elisha Matambo, claims that Ndola will soon regain its status as commercial capital of Zambia following the pledges of US$1.1 billion investments in oil refinery by a consortium of local and foreign investors.

Matambo is optimistic that the construction of a US$1.1 billion crude oil refinery in Ndola on the Copperbelt Province would change the status quo.

“This crude oil refinery will produce 60,000 barrels per day. The refinery will also include a 130 megawatts ( MW) power plant, with 100 MW feeding into the national grid,” he said.

This project, led by IDC, ZDA, and Fujian Xiang Xin, will have its groundbreaking ceremony in the third quarter of 2025 and start operations in 2026, creating 2,200 jobs during the construction stage and 600 permanent jobs, he claimed in a statement issued on Thursday.

Furthermore, Matambo said Ndola would also house the electric vehicle battery industry, a joint venture between the Democratic Republic of Congo (DRC) and the Zambian government.

He was sure more jobs were expected to be created as he paid tribute President Hakainde Hichilema’s ‘visionary’ leadership.

“Indeed, Ndola is on its way back to its industrial glory days,” said Matambo.

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