The Zambia Development Agency (ZDA) last week received three binding bids for Zamtel on March 12, 2010, the closing date for submission of the bids.

Binding offers have been received from Altimo Holdings / VimpelCom of Russia, LAP Greencom Ltd / LAP Green Networks of Libya, and Unitel / Angola Cables of Angola.

Zambia and China have signed five co-operation agreements in Beijing, which included one relating to partnership in the development of multi-facility economic zones (MFEZs) in Zambia.

Zambia has resisted the global economic crisis with a pick-up in growth, the latest Standard Chartered Bank Global Focus on the outlook for Zambia entitled “An Uneasy Transition” has indicated.

Asia investment in Zambia has significantly increased over the last decade, with China accounting for US$6.1 billion, Zambia Development Agency Director for Export Promotion and Market Development, Glyne Michelo has said.

A Japanese firm, Hitachi Construction Machinery Company Ltd has said it will establish an automobile plant in Lusaka worth US$10 million in the second half of this year.

The ZDA Board has accepted a fourth bid from Altimo of Russia to pre-qualify to participate in the Zamtel privatisation process.

Announcing the development in Lusaka, Acting Director General, Mr. Muhabi Lungu said the first three bids were received from Bharat Sanchar Nigam Limited (BSNL) of India, LAP Green Networks of Libya and UNITEL of Angola on the 23rd of December, 2009.

Ministry of Finance and National Planning Minister, Dr. Situmbeko Musokotwane says the sale of 65% Shares of Maamba Collieries to Nava Bharat Limited of Singapore, is the beginning of a process to revamp the operations of the mine and ensure its viability.

Eight international companies and consortia have successfully prequalified to participate in the privatisation of Zambia Telecommunications Limited (Zamtel).

The eight were among the 30 bidders who applied to prequalify in the partial sale of the telecommunications company after the Zambia Development Agency (ZDA) officially announced its privatisation in September this year.

Zambia Development Agency (ZDA) is inviting prospective bidders to submit applications for pre-qualification to participate in the proposed partial privatisation of Zambia Telecommunication Company Limited (Zamtel).