News / National
Zim govt signs mining deal with Chinese company
29 Aug 2014 at 18:47hrs | Views
The government and a Chinese company, Xintiandi Group, have signed a strategic cooperation agreement that is expected to see the injection of US$35 million towards the establishment of a mining explosive manufacturing plant in Zimbabwe.
Mines and Mining Development Minister Walter Chidhakwa signed on behalf of the government of Zimbabwe, while board director of Xintiandi Group of Companies, Tang Zhi, signed for his company at a ceremony held in Guang Zhou, the capital city of Guangdou, in China.
Chidhakwa said the project is coming at the right time as a lot of infrastructure development, especially road and rail construction, which involves rock blasting, will be taking place in the country.
He said this is a result of the mega deals clinched by the government in China.
Minister Chidhakwa said last year the country exported 21 tonnes of explosives and welcomed the development, saying it will enable the country to save funds.
Mr Tang Zhi said his company expects to launch the project in Zimbabwe in the next three months.
Mines and Mining Development Minister Walter Chidhakwa signed on behalf of the government of Zimbabwe, while board director of Xintiandi Group of Companies, Tang Zhi, signed for his company at a ceremony held in Guang Zhou, the capital city of Guangdou, in China.
Chidhakwa said the project is coming at the right time as a lot of infrastructure development, especially road and rail construction, which involves rock blasting, will be taking place in the country.
He said this is a result of the mega deals clinched by the government in China.
Minister Chidhakwa said last year the country exported 21 tonnes of explosives and welcomed the development, saying it will enable the country to save funds.
Mr Tang Zhi said his company expects to launch the project in Zimbabwe in the next three months.
Source - zbc
