A Chinese investment company is set to establish a fertiliser processing plant in the country within the next two months following agreements signed between Zimbabwe and China-Zhejiang Province in March this year.
The investment project is a culmination of the memorandum of understanding (MOU) signed at the Zimbabwe – China Zhejiang Province Symposium in March, which has seen a number of Chinese investors exploring investment opportunities in the country.
One such project will be undertaken by the China Industrial International Group Zimbabwe, which has targeted a fertiliser processing plant with the capacity to produce a combined output of 300 000 tonnes of Compound D and uranium fertilisers as confirmed by the firm’s chairperson, Mr Nie Haiyang.
A US$6 million investment package is earmarked for the project with the largest shareholder in China already confirming the project ahead of a visit by a 12 member delegation next month.
The Minister of Macro-Economic Planning and Investment Promotion, Dr Obert Mpofu said the government remains open to such investments which reflect the positive investment climate in the country.
Chinese investment in Zimbabwe has significantly grown over the years, with the latest project being the expansion of the Victoria Falls International Airport.