Palm River Energy Metallurgical SEZ declared operational

Business Writer

THE Zimbabwe Investment and Development Agency (Zida) has said the Palm River Energy Metallurgical Special Economic Zone (SEZ) in Beitbridge is now fully operational, having recorded US$57,7 million in verified investment as of March 2025.

Licensed in February 2024, the strategic investment is anchored on advancing Zimbabwe’s industrialisation agenda through integrated energy generation and metallurgical production.

Zida said the initial phase of the project targets US$209 million in total investment, with approximately 28 percent of that figure already achieved.

The capital deployed so far has been channelled towards imported machinery and equipment, as well as foreign equity injection, reflecting the investor’s long-term commitment to the project.

The development comprises a coking and ferrochrome processing plant, supported by key infrastructure including a 50-megawatt thermal power station, as well as cement and fertiliser manufacturing facilities. Long-term plans include scaling up both production capacity and energy output.

Beyond capital investment, the project has already created direct employment for 313 Zimbabweans, with additional jobs generated indirectly through contractors and service providers.

Responding to questions from this publication, Zida said employment numbers are expected to increase further as the project advances towards full operational capacity.

The agency confirmed that the investment remains fully compliant with all statutory requirements, including tax clearance, environmental certification, energy regulation approvals and social security obligations.

“The Palm River SEZ represents a key milestone in Zimbabwe’s drive to attract large-scale, export-oriented investments that enhance beneficiation, energy security and industrial growth,” Zida said.

Zida, which operates under the Office of the President, said it continues to work closely with project developers to facilitate implementation and monitor progress in line with national development priorities.