News / Local
BCC invites investors to special economic zone
09 Oct 2024 at 10:20hrs | Views
The Bulawayo City Council has granted approval for Lebanmon Investment Private Limited, a Chinese investment company, to establish a cement production facility at the Umvimila special economic zone. This development was confirmed by Mpumelelo Moyo, the chairperson of the finance and development committee, in a statement to NewsDay.
Moyo revealed that the council received the application from Lebanmon Investment, a subsidiary of West International Holdings Limited, which specializes in cement production and marketing across Africa and Central Asia. He noted, "We first approved it on September 26 as the finance and development committee after viewing it as a game changer in terms of economic development."
The council is actively seeking to attract more investors to the Umvimila Industrial Park, a special economic zone covering 188 hectares of untapped land. The new facility is expected to produce an impressive 900,000 tonnes of cement per year, with plans to export the product to regional markets, including Zambia, Botswana, and Mozambique.
Initially, the cement grinding plant was slated for Cowdray Park in Bulawayo; however, that application was rejected in July 2024. The council's latest report highlights the potential benefits of establishing the cement mixing plant, stating it will increase the local supply of cement, create over 500 jobs for local residents, boost export earnings for the province, and enhance technology and equipment within Zimbabwe's domestic cement industry.
This investment marks a significant step forward for Bulawayo's economic landscape, promising to contribute positively to the local community and the broader region.
Moyo revealed that the council received the application from Lebanmon Investment, a subsidiary of West International Holdings Limited, which specializes in cement production and marketing across Africa and Central Asia. He noted, "We first approved it on September 26 as the finance and development committee after viewing it as a game changer in terms of economic development."
The council is actively seeking to attract more investors to the Umvimila Industrial Park, a special economic zone covering 188 hectares of untapped land. The new facility is expected to produce an impressive 900,000 tonnes of cement per year, with plans to export the product to regional markets, including Zambia, Botswana, and Mozambique.
Initially, the cement grinding plant was slated for Cowdray Park in Bulawayo; however, that application was rejected in July 2024. The council's latest report highlights the potential benefits of establishing the cement mixing plant, stating it will increase the local supply of cement, create over 500 jobs for local residents, boost export earnings for the province, and enhance technology and equipment within Zimbabwe's domestic cement industry.
This investment marks a significant step forward for Bulawayo's economic landscape, promising to contribute positively to the local community and the broader region.
Source - newsday
