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Midlands Bureau
GWERU-based ferrochrome producer, Jinan-Almid (Pvt) Limited says plans are underway to commence power generation with a target of producing at least 720 megawatts of electricity.
The establishment of a new power generation plant will be a big boost to the Midlands economy and impact positively on the broader national development targets.
This comes at a time when the country is experiencing depressed energy supplies with the power utility, Zesa, implementing load shedding, which is limiting industry operations.
A few weeks ago, Zesa began implementing rolling power cuts as a result of low generation capacity at its Kariba and Hwange power plants.
Jinan started operations in Zimbabwe in 2012 and specialises in the production of ferrosilicon, low and high carbon ferrochrome.
The company’s current capacity utilisation is at 85 percent with four of its five furnaces with a capacity of 7 000 tonnes per month.
Speaking after a tour of the company’s plant recently, Midlands Minister of State for Provincial Affairs and Devolution Owen Ncube said he was excited about Jinan’s investment in power generation.
“I am pleased to note that Jinan has set its sights on yet another landmark investment. In April 2024, the company intends to commence power generation, with a target of producing at least 720 megawatts of electricity,” he said.
“This is a significant step towards addressing our nation’s energy requirements.”
Minister Ncube said the Government was fully behind the initiative and recognises the importance of a reliable and affordable power supply for the growth and development of industry and the country at large.
He hailed Jinan for being resilient in the face of numerous challenges in the sector among them depressed prices of ferrochrome products on the world market.
“The company has demonstrated its commitment to Zimbabwe by actively engaging in value addition and beneficiation within the ferrochrome industry,” he said.
“The company has remained an economic confidence-building reference point in the Second Republic’s efforts aimed at attracting foreign direct investment in mining and manufacturing as the company’s operations confirm that Zimbabwe is indeed open for business,” said Minister Ncube.
Jinan-Almid, which was established in Zimbabwe in 2012 through the close collaboration and friendship that exists between Zimbabwe and China, employs 1 120 workers.
Meanwhile, Minister Ncube also toured Drawlink Private Limited, which is renowned nationally for road, dam and bridge construction.
He applauded Drawlink for contributing immensely to job creation, technology transfer, skills development and provision of key products in the construction industry.
The company, which started operations in 2005, has invested US$450 000 towards procurement and installation of an asphalt plant.
Online Reporter