Sinazongwe District Commissioner (DC) Oliver Pelete has said government is proud with NAVA Bharat Ventures for releasing K4.332 billion to pay Maamba Collieries (MCL) retirees and for embarking on changing the face of Maamba Township.
Mr Pelete said when kicked off the payment for retirement package of retirees at the MCL head office in Maamba that before the new investor resumes production the employee’s six months salary areas have been cleared.
He said NAVA Bharat is in the process of planning how it would bring in machinery to revamp production.
The DC noted that the Company has started changing the face of Maamba through working on the roads within the township.
He said the new investor want to restore MCL to its original status.
“Government is proud of MCL. The bad image of MCl has changed. Government should also be commended for bringing in the right investor who is changing Maamba Township for better,” Mr Pelete said.
He urged the retirees to use their money prudently since it was their last payment.
[pullquote]“Government is proud of MCL. The bad image of MCl has changed. Government should also be commended for bringing in the right investor who is changing Maamba Township for better,” Mr Pelete said.[/pullquote]
MCL General Manager Alex Mutale said 40 retirees would be paid their money starting from those that retired in 2008.
Mr Mutale said once they were paid other retirees would be getting their money immediately they retire.
He also explained that the company is in the process of replacing the exiting Coal Processing plant (CPP) with a new one.
The General Manager said in the initial stage the company would construct a small CPP which would take three months to construct while waiting for the big one which will take about one year to be constructed.
He pointed out that the company would buy new equipment and rebuilds the existing bulldozer to commence mining as the manufacturer has already assessed it.
Mr Mutale said MCL would also start renovating the offices, working on the air strip, and commencing phase two of the road network in the Maamba Township.
However, Emmy Malambo a widow thanked the MCl for paying the retirement package for his late husband.
Mrs Malamboa thanked government for bring in a credible investor to end retiree’s misery they suffered for failing to get the money on time.
She said the money would help her send the children to School and assist her in her daily life.
NAVA Bharat ventures is the equity partner that government picket to running MCL and it owns 65 percent while government has 30 percent shares.
Good move though the figure quoted is wrong. It couls be 4 billion not 4,332,000,000 billion.
Is this a case of succesfull privitization paper.???
Thank u so much but the future is dim, why start with a small cpp than big one.
When I become president, I will renationalise the company and the terminal benefits for retirees.
LT!!
Do you really mean K4,332,000,000 billion (which is K4,332,000,000,000,000,000) or you mean K4.332 Billion? Be careful with numbers you could cause problems with the workers’ after raising their expectations!!
At least there is movement on the part of this privatisation process, only time will tell whether it has been a successful process. I grew up in this small town and it has degenerated beyond my apprehension, but future looks good from the noises coming out.
i am from india.i am a small shareholder of nava bharat ventures.from my past experience i am confident that nava bharat will deliver the promises
Please do not beleve them nava bhara will not keep its p——-ses. beware of —