Harare- THE Sino-Zim relationship was further cemented by a USD1 billion mega deal that is set to an increase in cement production ,Express Mail Zim can report.
This week, two Chinese companies namely West International Holding Limited and Labenmon Investors (Pvt) Limited sealed a US$1 billion agreement to go towards the construction of a grinding plant in Bulawayo, with an annual production capacity of 900,000 tonnes.
Speaking at the signing ceremony, West International Holding Limited president, Wang Fayin, said the envisaged project will bring economic gain to Zimbabwe.
“The industrial park is planned to have a new dry-process clinker cement production line with an annual capacity of 2.7 million tonnes, equipped with a 100 MW power generation unit and a cement grinding station with an annual capacity of 900,000 tonnes.
“Upon full completion of the project, the cement production capacity will exceed 2 million tonnes, effectively solving the local demand gap for cement and filling the gap in the market for high-quality cement and high-calcium white ash.
“At the same time, it will reduce the foreign exchange expenditure caused by the import of clinker and white ash while meeting the demand for infrastructure construction, industrial smelting and agricultural development,” said Wang.
“In addition, the project will create more than 5,000 jobs for the local community and contribute to the national economic development of Zimbabwe.
“The overall construction of the project closely follows the four themes of intelligence, environment protection, green and technology, and with the Group’s technical strength and business philosophy of industry-leading, casting high-quality products.
“In the next step, the project office will formulate a detailed construction plan, promote the project procedures and qualifications in an orderly manner in compliance with Zimbabwean national laws and regulations,” added Wang.
West International Holding Limited is commited to invest in Africa and their footprint can be seeen in Uganda, Ethiopia, Mozambique, Angola, and the Democratic Republic of the Congo.
The signing in ceremony was held at a local hotel.
