THE National Pension Scheme Authority (NAPSA) has signed a contract with Mukuba Property Development Company Limited worth K460 million for the construction of a state-of-the-art Garden Hotel, offices and restaurants in Kitwe.
The implementation period of the project was 18 months from the date of signing the contract.
According to NAPSA, the awarding of the contract to a Zambian property developer, is testament to the commitment by NAPSA to supporting and empowering local contractors and entrepreneurs.
Speaking at the signing ceremony in Lusaka, NAPSA director general, Yollard Kachinda said the project was a Turnkey Contract, which meant that the property developer would be responsible for both the design and construction.
Mr Kachinda said NAPSA was undertaking the project as an investment asset that would yield a return to enable the authority fulfill pension obligations to its members.
He said during the construction period, the project would create in excess of 800 jobs, while on completion the project would create over 400 permanent jobs.
“Other jobs are expected to come up as a result of business opportunities that will be created by the new hotel.
“The creation of these jobs would go a long way in addressing the problem of unemployment in the country in general and on the Copperbelt and Kitwe in particular which were recently ravaged by massive job losses in the mines,” he said.
Mr Kachinda has since appealed to the property developer to ensure that the local people benefitted from the project by involving them in the construction works.
He reiterated that this was a sure way of creating ownership for the project.
And Mukuba Property Development Company Limited managing director, Renatus Mushinge said his company shared the belief of NAPSA that the local people should derive maximum benefits from such projects.
Mr Mushinga also thanked NAPSA for showing confidence in his company which was a Zambian-owned company and pledged to execute the contract professionally and within time and budget.
“I am delighted to see this contract finally being signed so that we can begin work. I would like to thank NAPSA management for the trust and confidence in us. Our team has started mobilising and with this contract signed it will be all systems go,’’ she said.