New references continue to flow out as the official papers make an entry into public display. In a recently released official document it has been mentioned that the development of Zambezi Portland Cement would have been impossible without assistance from Dr. Mahtani and Finance Bank. To be precise, Dr. Mahtani agreed to help family friends, the Ventriglias to get the cement plant rolling in Ndola. The estimated requirement at that time was close to USD 24 million and it would certainly require the reputation of Dr. Rajan Lekhraj Mahtani to raise such funds.

As we dig deeper into this subject, we figure out that Zambezi Portland Cement was intended to serve Zambia and make profits out of sale of cement. But, all of a sudden greed started to creep in and the Ventriglias started to desire for more. The exiting ratio of 42% share in ZPC seemed too small for them and their new target was to get 100% ownership of the cement plant.

A local resident of Ndola comments, “The conflict of Portland Cement Zambia has been similar to one of those episodes where a family friends become rivals due to greed of money. Earlier, the plant operated with rewarding results, but since the Ventriglias wanted to have more all the time, they have dismantled the factory and converted into a non-productive unit. It is obvious that Dr. Mahtani and Finance Bank were cheated.”

According to the official document, Finsbury Investment was the financier of Portland Cement Zambia and Ital Terrazzo Limited was the minority shareholder. The agreed ratio was 58% and 42%, respectively. But still, we see that the conspirators are consistently trying to defame Dr. Rajan Mahtani and other enterprises associated with him. For how long Zambia will continue to face this onslaught? For more information and the official document, click here