Chinese investors announce a US$1 Billion Cement Plant Project in Mash West province

After Chinese investors revealed plans to build a US$1 billion cement plant in the Magunje district of Mashonaland West province, KAROI Town is set to become a major industrial hub in the near future. Labenmon Investments (Pvt) Ltd and West International Holding inked a US$1 billion financial agreement for the project, which is expected to be completed in two years, during a press conference on the project partnership on Wednesday in Harare. poster A new dry-process clinker cement production line with an annual capacity of 2.7 million tons, coupled with a 100 MW power generation unit and a cement grinding station with an annual capacity of 900 000 tons, will be housed in the proposed industrial park. In his address, Wang Fayin, the president of West International West Holding, stated that "the project will also create employment for about 5000 people, to save a lot of foreign exchange for Zimbabwe from cement imports and increase the US dollar tax revenue." During his introductory speech, Fayin stated, "We are here in Harare, Zimbabwe, to formally launch the signing ceremony between WIH Cement Developing Company Limited and Labenmon Investments Pvt Limited for the development of a new building materials industrial park. "On behalf of West International Holding (Pvt) Ltd, I feel incredibly honored and delighted to witness this wonderful moment with the Zimbabwean government departments and media friends." He disclosed that the market potential and dynamic growth possibilities in infrastructure demonstrated by the need for building materials and cement had drawn West International Holding to Zimbabwe and reinforced their resolve to invest there. In order to construct a new construction materials industrial park in Zimbabwe, West International Holding and Labenmon Investments (Pvt) Ltd have recently struck a collaboration agreement. When the project is finished, it should be able to meet local demand for high-quality cement and high-calcium white ash, which will lower foreign exchange expenses associated with importing clinker and white ash while also addressing the need for infrastructure construction, industrial smelting, and agricultural development. "A new building materials industrial park in Karoi will be created following the 'intelligent, environmental protection, green, and technology' themes. The project will be carried out in two portions being constructed at the same time. According to government plans to grow the country through National Development Strategy 1 (NDS1) and work toward Vision 2030, the plant is anticipated to transform the little town and its rural environs. No residents will be relocated, according to the project owners, and locals will be expected to undergo training for a variety of employment skills required for the project from the time it starts until its completion and beyond. Contact Us Editorial: dion@vaka.co.zw Advertising: advertising@vaka.co.zw : news@vaka.co.zw Whatsapp: +263787980064