adminChemplex Corporation chief executive officer Mr Misheck Kachere said the money would go a long way in addressing the shortage of fertiliser being experienced in the country.
“We owe Zesa a lot of money, Sable is down because of power,” he said. “We also need money to import raw materials and if we have between $5 million and $10 million we can avert this shortage. It is a very bad situation.”
Mr Kachere said the industry was struggling to stay afloat and needed urgent capital injection.
“Whatever money we are getting we inject into our operations but it is inadequate,” he said.
Last year Zesa sued the firm over a $17 million debt.
The sole Ammonium Nitrate fertiliser manufacturer is also scouting for an investor to finance a $200 million coal gasification project to replace the electrolysis plant which consumes 100 megawatts every month when operating at full capacity. — New Ziana.
Online Reporter