News / Regional
Gwayi project to generate $1 billion annually
06 May 2013 at 05:41hrs | Views
A major mining and industrial project that is currently taking shape in the Gwayi area in Matabeleland North is projected to generate about $1 billion in annual gross revenues when completed in 2015, raising prospects that Zimbabwe could become a $100 billion economy in the medium term.
The $2.1 billion mega project, which is being driven by China-Africa Sunlight Exploration - a joint venture between a consortium of local businesspersons, Oldstone Investments and Chinese firm Shandong Taishan Sunlight Group Co. Ltd - is principally expected to produce coal.
However, much of the thermal coal will be fed to a 450 megawatt (MW) power-generating plant that will be constructed before the end of next year.
The $2.1 billion mega project, which is being driven by China-Africa Sunlight Exploration - a joint venture between a consortium of local businesspersons, Oldstone Investments and Chinese firm Shandong Taishan Sunlight Group Co. Ltd - is principally expected to produce coal.
However, much of the thermal coal will be fed to a 450 megawatt (MW) power-generating plant that will be constructed before the end of next year.
Source - sundaymail
