Story by Sifiso Sibanda
PRESIDENT Emmerson Mnangagwa has described the latest US$3.6 billion energy generation investment by a Chinese company as confirmation that Zimbabwe is a safe investment destination.
He was speaking during the commissioning of part of the energy metallurgical plant in Beitbridge this Monday.
The Palm River Energy Metallurgical project in Beitbridge will be constructed by a Chinese company, Xinganglian.
The project falls under the Beitbridge Special Economic Zone, and President Emmerson Mnangagwa who commissioned part of the plant this Monday described that initiative as an example of several successful partnerships between Zimbabwe and its strategic allies.
“The progress we are seeing here is also a positive result of my government’s engagement and re-engagement policy that has led to growing confidence in Zimbabwe as a favourable investment destination. More companies from our strategic friends and partners, the People’s Republic of China and indeed from across the world remain welcome to invest in our country,” said the President.
He said the Palm River Energy Metallurgical Special Economic Zone project will propel the country’s industrialisation agenda, unlocking unprecedented opportunities for employment and technological advancement.
“I commend Xintai Resources under the investment entity, Xinganglian for their bold decision to invest US$3.6 billion into this project. At the heart of this special Economic Zone lies the integration of energy and metallurgy -two critical sectors that have the potential to redefine our industrial landscape. These integrated systems and processes highlight the drive towards issues of sustainable mining, low greenhouse gas emission, low waste production and energy self-sufficiency through recycling of the resultant waste.”
The President however called on mining companies to adhere to the country’s regulatory requirements and seek to serve local communities.
The Chinese government and its companies have cooperated with Zimbabwe in many projects including the Hwange 7 and 8 thermal power station expansion project, the New Parliament Building in Mt Hampden and the upgrade of the country’s airports.
