https://en.sputniknews.africa/20241007/zimbabwe-establishes-36-billion-mining--energy-industrial-park-local-media-says-1068582440.html
Zimbabwe Establishes $3.6 Billion Mining & Energy Industrial Park, Report Says
Zimbabwe Establishes $3.6 Billion Mining & Energy Industrial Park, Report Says
Sputnik Africa
In 2018, President Mnangagwa declared the town of Beitbridge a Special Economic Zone as part of the Second Republic's drive to attract more investment under... 07.10.2024, Sputnik Africa
2024-10-07T15:39+0200
2024-10-07T15:39+0200
2024-10-07T17:47+0200
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The Zimbabwean government, together with a Chinese mining company, Palm River Energy, has launched a $3.6 billion energy industrial park project in Beitbridge town, in the province of Matabeleland South, local media reported.The industrial park, covering 5,100 hectares, will include a coking plant, a ferrochrome smelter, and a coal-fired thermal power plant, creating a sustainable integrated mining and energy hub. The project will make a significant contribution to Zimbabwe's mining and energy sectors, creating jobs, boosting exports, and contributing to economic growth, according to The Herald.The initiative demonstrates the success of Zimbabwe's "open for business" policy, aimed at attracting foreign direct investment and enhancing local business viability, the minister added.Matabeleland South Provincial Affairs and Devolution Minister Evelyn Ndlovu, who accompanied Chitando during the observation, highlighted the transformational impact of the project on the province's economy.
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zimbabwe, economy, industry, cooperation, china, east africa, economic growth, investment, emmerson mnangagwa
zimbabwe, economy, industry, cooperation, china, east africa, economic growth, investment, emmerson mnangagwa
Zimbabwe Establishes $3.6 Billion Mining & Energy Industrial Park, Report Says
15:39 07.10.2024 (Updated: 17:47 07.10.2024) Alla Shukanova
Writer / Editor
In 2018, President Mnangagwa declared the town of Beitbridge a Special Economic Zone as part of the Second Republic's drive to attract more investment under the "Zimbabwe is open for business" policy.
The Zimbabwean government, together with a Chinese mining company, Palm River Energy, has launched a $3.6 billion energy industrial park project in Beitbridge town, in the province of Matabeleland South, local media reported.
The industrial park, covering 5,100 hectares, will include a coking plant, a ferrochrome smelter, and a coal-fired thermal power plant, creating a sustainable integrated mining and energy hub. The project will make a significant contribution to Zimbabwe's mining and energy sectors, creating jobs, boosting exports, and
contributing to economic growth, according to The Herald.
“The implementation of this project was preceded by meetings between the chairman of the investing company, Mr. Zhou Xudong, and His Excellency, President Mnangagwa, who then gave the go-ahead for the project to be implemented as an integrated mining and energy park,” Mines and Mining Development Minister Winston Chitando noted after he observed the project.
The initiative demonstrates the success of Zimbabwe's "open for business" policy, aimed at attracting foreign direct investment and
enhancing local business viability, the minister added.
Matabeleland South Provincial Affairs and Devolution Minister Evelyn Ndlovu, who accompanied Chitando during the observation, highlighted the transformational impact of the project on the province's economy.
"This project will transform Beitbridge District and the entire Matabeleland South Province won’t be the same again. This is a massive project which involves mining, energy production and value addition," she said.
