Online Reporter
Business Reporter
The Zimbabwe Investment and Development Agency has said that the Palm River Energy Metallurgical Special Economic Zone in Beitbridge is now fully operational, recording US$57.7 million in verified investment as of March 2025.
Licenced in February 2024, the strategic investment is aimed at advancing the country’s industrialisation agenda through integrated energy and metallurgical production.
According to ZIDA, the initial phase of the project is targeting US$209 million in investment, meaning approximately 28 percent of that goal has been achieved to date.
The funds have been channelled into capital equipment imports and foreign equity injection, underscoring the investor’s commitment.
The development includes a coking and ferrochrome processing plant, supported by infrastructure such as a 50 megawatt thermal power station, alongside cement and fertiliser manufacturing facilities. Long-term plans envisage further scaling of both production capacity and energy output.
Beyond capital expenditure, the project has already generated direct employment for 313 for Zimbabweans, with additional jobs created indirectly through contractors and service providers.
Responding to questions from this publication ZIDA said employment numbers are expected to rise as the project expands towards full operational capacity.
The agency confirmed that the project remains fully compliant with all statutory requirements, including tax clearance, environmental certification, energy regulation, 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.
The agency, which operates under the Office of the President, continues to work closely with the project developers to facilitate implementation and monitor progress in line with national development priorities.
