Zimbabwe yesterday signed a $1 billion deal with Chinese company Sinosteel Corp. The Chinese firm will build a 400 megawatt coal bed methane-fired power plant in Matabeleland North Province and new ferrochrome smelters in Zvishavane and Kwekwe.
The deal which has the potential to create nearly 25 000 jobs, will be implemented in phases. Phase one involves the drilling of two Coal Bed Methane (CBM) wells at the Shangani grants to fire a 12MW pilot power station. The second phase involves the drilling of more productive wells and the setting up of a 400 MW plant. The power plant is expected to start operation in 2025 and the electricity generated will be used by Zimasco’s chrome smelting operations with excess supplied to the national grid.
More: Herald