The company's chief executive officer Bryan McCoy said the expansion programme will enable Yalelo Limited to increase its annual fish production from 7,000 tonnes to 30,000 tonnes in the next five years.
In a statement availed to the DailyMail, Mr McCoy said the investment will also create an additional 150 specialist full-time jobs and engage 100 non-skilled staff.
“Yalelo is extremely proud to be investing further into local production capacity. Zambia has the resources to be the leader in regional fish production, and Yalelo is ready to anchor Siavonga’s emergence as the aquaculture capital of sub-Saharan Africa,” he said.
Yalelo is also continuing with plans for the development of a specialty aquafeed mill which will complement the growing offerings from existing suppliers.
