Chinese firms target US$13 billion Zimbabwe project
ABOUT 20 Chinese investors with cumulative turnover of nearly US$40 billion have shown keen interest to invest in the proposed US$13 billion mine-to-energy industrial park in Mapinga, Mashonaland West Province.
The development of the multi-billion dollar industrial park is firmly on course with the investors awaiting the Government to finalise some administrative processes, including the environmental impact assessment, before implementing the project.
In September last year, the Government and two Chinese investors, Eagle Canyon International Group Limited and Pacific Goal Investment, signed a Memorandum of Understanding, at an event presided over by President Mnangagwa, for the construction of the mine-to-energy industrial park.
The project will be the first of its kind in Zimbabwe and is anticipated to bolster the economy through the beneficiation of minerals.
It also testifies to the Government’s commitment to implement clean energy projects vital enablers for driving modernisation and industrialisation of the country.
Last week, a delegation comprising 18 firms from the China Chamber of Commerce was in Zimbabwe to scout opportunities.
The prospective investors toured the mine-to-energy industrial park site along the Harare-Chirundu highway.
A source who spoke on condition of anonymity: “The business delegation consisted of many large Chinese firms that are in the business of new energy with a total turnover of nearly US$40 billion. They came into Zimbabwe to explore opportunities at the new energy park and are seriously looking at investing in the new energy park at Mapinga.”
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The planned mine-to-energy industrial park is being established on a 5 000-hectare piece of land with an initial capital injection of US$4 billion under the first phase.
The scope of work for the project involves the implementation of the plan that Eagle Canyon International Group Limited and Pacific Goal Investment signed in the MoU with the Government.
The visiting delegation comprised officials from entities such as Power Construction Corporation of China (POWERCHINA), China Energy Engineering Group, China Machinery Engineering Corporation, Lindu (Guangdong) Intelligent Technology Development, Yuhuan Shangbo Power Company, and Zhejiang Isola New Energy Company.
“This is an energy park where everyone will be invited to participate so it will not just be Chinese investors; it will include other investors from Europe, South America and everywhere across the world. Anyone who will see the incentives of the energy park and see the benefits of coming to do manufacturing and value addition in Zimbabwe will be welcome,” said the source.
Among other advantages, the development of the industrial park in which the Government has a buy-in will see investors in the project securing support and incentives to control operation cost and create a sound business environment for business; all investors in the project will have comprehensive infrastructure that include road, water, power and telecommunications.-chronicle
