Matrix of theft of $105 million at Ndola Lime
Ndola Lime gets a loan to buy a Kiln
The Company sends Engineers to Italy who settle for a Company called Terruzzi Ferlcax
The said engineers conive with the Italian crooks to Buy a decommissioned kiln at a cost of $105 million.
The Kiln in question was decommissioned (dismounted) because it was declared unusable, it had reached the end of its life span. Upto date, the Kiln has failed to work.
Upon receipt of the $105 million, the company in Italy (Terruzzi Ferlcax) declares bankruptcy. Ndola lime has no where to claim.
In Ndola, the compound mounts the Kiln, it fails to work.
Meanwhile Ndola Lime continues to service the loan
The Engineering Institute of Zambia (EIZ) has been conspiqously quiet about this high level scandle involving their members.
Before purchase, any significant engineering equipment is subjected to Factory Acceptance Test (FAT). But why was there an exception in this case.
Low and behold, Ndola Lime has changed name to Limestone Resources with new shareholders, workers declared redundant.
Ndola Lime was a Public Company under the ZCCM IH.