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Chiwenga secures India vehicle production deal
11 hrs ago | Views
Zimbabwe has made significant strides at the India-Africa Business Conclave, which concludes today, with Vice President Dr Constantino Chiwenga leading a delegation that secured landmark partnerships set to boost the country's industrial and agricultural sectors.
A highlight of the conclave was the signing of a full assembly agreement between Willowvale Motor Industries and Indian vehicle manufacturer Ashok Leyland, a global specialist in trucks and buses. The partnership, which initially began in 2021 but stalled, was renewed in 2024 and is now poised to commence operations by January next year. The agreement is expected to revitalize Zimbabwe's automotive industry, create jobs, and strengthen local manufacturing capabilities, in line with government efforts to promote economic self-sufficiency and reduce reliance on imports.
"Zimbabwe and India's economic cooperation continues to grow from strength to strength," said VP Chiwenga. "This is a landmark achievement, an example of how strategic partnerships create value chains, jobs and growth. We are seeking partnerships to grow our economy through value chains and beneficiation, leveraging our comparative advantage as an investment destination of choice."
The conclave also highlighted significant opportunities in Zimbabwe's sugar industry, with Platinum Crest Agro Ventures expressing interest in a US$170 million integrated sugar production project. The initiative is designed to cover the entire value chain and is expected to transform the sector, increase productivity, and create economic opportunities for local farmers. "This facility is poised to become one of the largest and most advanced sugar factories in Zimbabwe and Southern Africa," said Platinum Crest director Nitin Kadam, noting the project reflects Indian industry's confidence in Zimbabwe's potential.
In addition, VP Chiwenga welcomed Naveen Jindal, Chairman of the Jindal Group, for discussions on ongoing energy projects with the Zimbabwe Electricity Supply Authority (ZESA). Jindal and ZESA have signed a Memorandum of Understanding for the refurbishment of Hwange Units 1 to 6, a project that could add up to 800MW to the national grid. Mr Jindal emphasised that the collaboration aims to benefit both the country and local communities through corporate social responsibility initiatives.
At the conclave, VP Chiwenga addressed a country session advocating for increased investment in Zimbabwe and engaged with potential investors, outlining the nation's strategic vision for industrial growth and economic development. The agreements and discussions secured at the event mark a significant step forward in strengthening Zimbabwe's industrial, agricultural, and energy sectors while fostering deeper India-Africa economic cooperation.
A highlight of the conclave was the signing of a full assembly agreement between Willowvale Motor Industries and Indian vehicle manufacturer Ashok Leyland, a global specialist in trucks and buses. The partnership, which initially began in 2021 but stalled, was renewed in 2024 and is now poised to commence operations by January next year. The agreement is expected to revitalize Zimbabwe's automotive industry, create jobs, and strengthen local manufacturing capabilities, in line with government efforts to promote economic self-sufficiency and reduce reliance on imports.
"Zimbabwe and India's economic cooperation continues to grow from strength to strength," said VP Chiwenga. "This is a landmark achievement, an example of how strategic partnerships create value chains, jobs and growth. We are seeking partnerships to grow our economy through value chains and beneficiation, leveraging our comparative advantage as an investment destination of choice."
In addition, VP Chiwenga welcomed Naveen Jindal, Chairman of the Jindal Group, for discussions on ongoing energy projects with the Zimbabwe Electricity Supply Authority (ZESA). Jindal and ZESA have signed a Memorandum of Understanding for the refurbishment of Hwange Units 1 to 6, a project that could add up to 800MW to the national grid. Mr Jindal emphasised that the collaboration aims to benefit both the country and local communities through corporate social responsibility initiatives.
At the conclave, VP Chiwenga addressed a country session advocating for increased investment in Zimbabwe and engaged with potential investors, outlining the nation's strategic vision for industrial growth and economic development. The agreements and discussions secured at the event mark a significant step forward in strengthening Zimbabwe's industrial, agricultural, and energy sectors while fostering deeper India-Africa economic cooperation.
Source - newsday
