By Evans Dakwa ,News Editor
As Zimbabwe trudges towards the ambitious vision of transforming its economy into an upper middle income one by 2030, President Mnangangwa has officially broken the ground for the massive US$ 3.6 billion Xintai Palm River energy metallurgical special economic zone venture in Beitbridge.
The giant project, which covers 5163 hectares is being implemented by Zimbabwe Xintai Resources, and integrates mining, renewable energy and infrastructure development and a host of other projects divided into 5 stages of implementation covering 12 years from 2023-2035.
Speaking soon after breaking the ground for the hybrid venture that is set to transform not only the economy of the Border town but the Matabeleland South province and the country as a whole, President Mnangangwa underscored the importance of the mining sector in the economic matrix of Zimbabwe.
“As you are aware, the mining sector plays a crucial role in fostering economic development. It is a major creator of both direct and indirect employment opportunities, which significantly impact local communities. Through investments by industry players, mining operations can improve infrastructure such as roads, schools, and healthcare facilities. In our economy, the sector not only contributes through exports revenue and taxes, but also supports ancillary,” said the President.
Given the magnitude of the project President Mnangangwa expressed his expectation that the venture plays an important role in the country’s industrialisation and modernisation agenda.
“We look forward to this project helping to drive our national economy forward and unlocking unprecedented opportunities for employment, technological progress and social development, as we march towards the attainment of Vision 2030.”
He also applauded Zimbabwe Xintai resources (Pvt) Co .Ltd for developing a sustainable venture which promotes the use of clean energy and significantly mitigate against environmental impact to local communities.
“While the growing demand for minerals and metals provides economic opportunities, significant challenges are likely to emerge if the climate-driven clean energy transition is not managed responsibly and sustainably,”he said.
The holistic investment,is set to transform Beitbridge District as it prioritizes value addition of minerals which you node out drive industrial development and economic growth leading to job creation, economic divasfication and infrastructure development.
The projects’s integrative nature will see it on completion recycle energy, photovoltaic green power, coke oven, submerged heat furnace tail gas power generation, chromium iron water, liquid chromium slag, dust removal flue gas waste heat power generation, and the generated energy will be reused for industrial projects in the park.