Online Reporter
PRESIDENT Mnangagwa officiated at a sod-turning event of a $3,6bn mining, manufacturing and energy project near Beitbridge in Matabeleland South on Monday.
We estimate that the Palm River Energy Metallurgical Industrial Park (Palm River Energy) is, by a distance, the province’s biggest investment yet. It will mine coal, use it to generate electricity and use that electricity to process coal into coke. Additionally, the facility will produce ferrochrome and ultimately, steel.
Through its five phases to be built over 12 years, the project will employ thousands.
This is a welcome development for the province which counts Blanket Mine and How Mine as probably its largest businesses. There is Vubachikwe and Shangani as well. Zulu Lithium and Tantalum Mine is inching up. There are multiple small-scale mines in the province too.
Agriculture is impressive in Matabeleland South.
However, Palm River Energy Metallurgical Industrial Park is changing the game given the money to be spent on building it, the diversity and weight of its operations and its potential economic and social impact not only around the project site, but also nationally.
The President praised a Chinese firm, Xinganglian Holding Group Co Ltd, for investing in the “model of excellence” which will drive national industrialisation and modernisation.
“Let us work hand in hand to ensure that the Palm River Energy Metallurgical Special Economic Zone not only succeeds but exceeds expectations,” he said.
“To the engineers and all who will work on this project to bring it to life, know that what you are building is a legacy. My Government is fully in support of this initiative and will move with you for shared success.
Let it be a model of excellence, a beacon of innovation, and a driver of prosperity for generations to come.”
We are hopeful that Palm River Energy will achieve its goals to produce 1 200 megawatts of thermal energy, two million tonnes of chromium-based material and one million tonnes of coke yearly.
The investors are urged to redouble their efforts for this to happen. The Government must keep an eye on Palm River Energy, ready to support it as requested.
Its first phase has, so far, created 800 jobs for locals, but it is obvious that the head-count will grow into thousands over the next 12 years.
Our people will be paid decently so they can look after themselves and their families well. They will pay tax, and spend elsewhere to help drive the economy forward.
Local public infrastructure will grow.
It is possible that Palm River Energy will sell surplus energy to Zesa, helping it to meet demand. Yes, it is set in a special economic zone thus enjoys some incentives, but the investment will still contribute variously to the fiscus.
Beitbridge Town, largely based on cross-border traffic and agriculture, will get a fresh impetus from Palm River Energy.
