There is no disagreement to this fact that the Portland Cement Zambia has been facing the worst phase of its life. With Finsbury Investment gone from the management position, the flourishing factory was left at the mercy of Ital Terrazzo Limited. Time has itself answered the question for the people of Zambia and now they are witnessing one of the most infamous collapse of an integral development project.
The Portland Cement Zambia was established with a view to make Zambia efficient enough to have its own source of cement. Competitors like Lafarge were left far behind and the people of Ndola were able to find employment for themselves, but then came the Ventriglias and started the carnage that hasn’t stopped till date. Talk about issues like corruption and money mismanagement and story seems to be never ending starting since the infamous takeover. Today, Portland Cement Zambia has become non-operating. The production facility has stopped. There is no longer the rush of workers and there is nobody who is taking care of the planning and development process.
In 2014-15 the factory had registered a record production of 4, 70, 000+ tonnes of cement with the available resources. But with time, the same only appears to be a glorified achievement. The conspirators have taken over the factory and at the moment are only interested in diversifying the assets of the factory to personal accounts. On the other hand, there is no news of the factory. Rather, Zambia Reports is carrying on a business to defame Dr. Rajan Mahtani, Finsbury Investment and Finance Bank of Zambia (now merged with BancABC).
The overall incident now clearly indicates that the owners of Ital Terrazzo Limited are trying to diverge the attention from Portland Cement Zambia to Dr. Rajan Mahtani because they know the consequences that they are likely to face if whole of Zambia comes to know about this “merciless slaughter”.