Dr. Mahtani & Zambia witness the carnage at Portland Cement Zambia

The scene at the Portland Cement Zambia is getting worse with every passing day. Not only have the conspirators found a convenient way of exploiting the resources of the cement factory, but they have also been able to take advantage of the confusion that prevails with respect to the ownership of the plant. In a proposal which was made by Finsbury Investments in May 2015, it was suggested to appoint a liquidator and dissolve the factory as its ownership was constantly a subject of conflict. Sadly, the whole proposal was ignored by the minorities, Ital Terrazzo Limited and the result of this impact was that on 19 May, 2016 the Court refused to appoint a liquidator.

Portland Cement Zambia

Failing to appoint a liquidator implies that the Portland Cement Zambia would continue to be exploited by the minority shareholders, who at the moment are having full control over the management of the plant. They have also managed to leak out the assets of the factory through development of bogus companies such as Astrea Investment and Miloto Transport. The former currently holds the fabricated title deeds of the Portland Cement Zambia and the later holds about 43 trucks of the factory.

In respect of such conditions, it has become obvious that Dr. Mahtani & Zambia have been reduced to mere witness. All that they can do now is to hope for justice to prevail. Portland Cement Zambia had been a performer in 2014-15, but as soon as the factory was taken over by the Ventriglia family, the downfall began. As of today, the unit has no production facility and everything has been ruined including the workers and the infrastructure of the facility. The carnage at the Portland Cement Zambia is nothing, but the failure of the Government to respond to an emergency situation for the locals of Ndola.