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Government Of Zimbabwe Signs $5.2 Billion Liquid Fuel Deal

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Emmerson Mnangagwa of Zimbabwe

Zimbabwe Signs Deal To Add Value To Coal

The Zimbabwean government today signed a 5.2 billion dollars deal with a South Africa firm for the production of more than 8 million litres of liquid fuel per day from coal in Hwange.

The deal will see the beneficiation of coal for production of liquid fuels, fertilizers and chemicals, Naija News learnt.

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A ground breaking ceremony for the plant is scheduled for June 1 while mining operations are expected to start in September.

It will take at least three and a half years before the country starts benefiting from the value addition.

The project will operate under the joint venture company Vectol Zimbabwe Pvt Ltd.

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Zimbabwe holds vast coal reserves, particularly in the northwestern and southern regions.

Zimbabwean President, Emmerson Mnangagwa, said the liquid project was a good example of commodity-based industrialisation in value addition.

My government fully endorses this project and has granted it national project status.

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“I am confident that it will contribute to our energy, security and self-sufficiency in terms of liquid fuels, fertilisers and a range of other chemicals.”