By YVONNE CHATE –

THE Development Bank of Germany (DEG) and Development Bank of Netherlands (FMO) have signed a US$30 million contract loan with Handyman’s Paradise Limited to finish up the company’s lime plant in Masaiti.
The lime plant which is a joint venture between Handymans Paradise limited and Astro Holdings Group of Companies is expected to produce 600 tonnes of quicklime per day once completed.
FMO Southern Africa regional representative Ewout Van-der-Molen said the construction of the Lime plant would create more than a hundred jobs to the existing four hundred for the people of Masaiti.
Mr Van-der-Molen said once the plant is operational it would reduce the country’s dependence on international equipment and in-turn boast the nation’s economy.
He said this during the signing ceremony of the $30 million loan deal in Masaiti on Tuesday.
Mr Van-der-Molen said the dream, vision and perseverance of Handyman’s executive chairperson Michael Pasquine and Sam Patel convinced the two international banks to give them a $30 million.
“It was not easy for us to give a purely Zambian Company a loan but the perseverance, dream and vision of Michael Pasquine and Sam Patel convinced us to give them $30 million to complete the Lime plant,” he said
Handyman’s Paradise managing director Michael Pasquine said the plant capacity would contribute massively towards meeting the growing demand for lime in the country.
Mr Pasquine said the target market was Zambian mines and other large-scale lime consuming companies.
Meanwhile, Senior Chief Chiwala urged Handyman’s Paradise Limited to participate in corporate social responsibility and also help the vulnerable people in the district.
He said the company should involve the people in his chiefdom to succeed in their business.
Speaking at the same function, Gender Minister Nkandu Luo said the plant should take advantage of Zambia being a land-locked country to export products to neighbouring countries.