Zimbabwe destined to produce surplus electricity and fuel

President Emmerson Mnangagwa yesterday told over 40 000 youths at a convention in Mkoba that Zimbabwe was destined to produce surplus electricity and fuel.

"We signed an agreement for coal-bed-methane in Lupane that will start in August to produce fertiliser, electricity and fuel," he said.

"After four years, we should be producing eight million barrels of fuel and this country consumes five million barrels of fuel per year, which means we will have excess fuel in this country after four years," he said. "That project will give us about 1 000 megawatt electricity and enough fertiliser."

President Mnangagwa said the Chinese had this week released funding for the Hwange 7 and 8 electricity project. He said the venture was estimated to create about 1 000 jobs.

President Mnangagwa said another investor had shown commitment to inject $4,2 billion in platinum mining. "We have Karo Resources that have also come and they are now busy setting up their equipment on a daily basis," he said. "They have invested $4,2 billion in platinum. So, many projects have come.

"Within the last five to six months we have attracted, in this country, around $16 billion in terms of projects alone and this must go towards the creation of employment."

President Mnangagwa reiterated that Zimbabwe would be a middle income economy by 2030. He indicated that Government was working on reviving industries in Bulawayo and the railways system.

"We are saying economics, economics; business, business, business brings food at the table, business sends children to school, business builds roads, business builds hospitals, business builds houses (and) our roads can only be built when there is business in the country, so, Zimbabwe is open for business," said President Mnangagwa.

The event was attended by Vice Presidents Constantino Chiwenga and Kembo Mohadi, Zanu-PF national chairwoman Oppah Muchinguri-Kashiri and several senior party members.