By Prince Chese
THE Special Advisor For Projects and Implementation to President Emmerson Mnangagwa Joram Gumbo has said Zimbabwe must expect a turn in its fortunes from Beitbridge where the Xintai Palm River Project has a projected US$3.6 billion investment.
The project is a joint venture between the Zimbabwean Government and Chinese-owned Xintai Resources.
It has already seen over 1,100 workers deployed, including several Chinese technical experts. Of these 800 are locals.
With an investment value of 3.6 billion US dollars, it is one of the largest mining developments in the region.
Gumbo who led a high-powered government delegation toured the Xintai Palm River Project in Beitbridge on Thursday.
The visit comes a few months after President Mnangagwa commissioned the operations now on the second phase.
President Emmerson Dambudzo Mnangagwa in February presided over the groundbreaking ceremony of the Xintai Palm River Energy and Metallurgical Industrial Park marking a significant milestone in Zimbabwe’s economic development.
The project is a comprehensive energy hub that includes a coking plant with a 1 million-tonne annual coke capacity, a 1,200-megawatt coal-fired thermal power plant sourced from the Tuli Coal Mine, and a ferrochrome smelting plant producing 100,000 tonnes of high-carbon ferrochrome per year.
This will enable the production of specialized steel products, including stainless steel and casing.
The US$3.6 billion industrial park, spanning 5,163 hectares, is being constructed in five phases and has now entered its second phase, with the fifth expected in 12 years when it is expected to create thousands of jobs.
The deputy CEO of Xintai Resources Mr Bai Xidong said that with a US$3 billion investment projected upon completion the company plans to extend beyond mining.
Included in the delegation that accompanied Gumbo were officials from the Beitbridge Rural District Council led by Chairman Oscar Chiromo, the Ministry of Mines and Mining Development, and the Office of the Secretary for Provincial Affairs and Devolution, among others.