Lungu to give Avic international 49% shares in Indeni

Lungu to give Avic international 49% shares in Indeni

Avic International, the Chinese company at the centre of corruption in Zambia will be given 49 per cent shares in Indeni Refinery, government officials have told the Watchdog.

But to hoodwink the public and conceal the endemic corruption, the government is currently undertaking a fake tender process whose outcome had already predetermined.

Today, the Industrial Development Corporation (IDC) announced Glencore energy (UK), China Petroleum & Development Corp of China, Joiny stock company of Russia, Sahara Energy resources of UK, Beijing Huiersanji and AVIC International as the 5 companies that have been shortlisted in the public tender to buy 49 percent in indeni.

But insiders say the shares have already been awarded to AVIC.

Meanwhile, President Lungu has dropped Lawrence Sikuta and Rabson zulu quietly and replaced them with Alexandra Chikwanda and David Kombe on the IDC board.

Lungu is the chairperson of the IDC.

The IDC has since bought shares in Invest trust and intermarket bank, zamoil from zambeef using ZCCM-IH.

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