Business Reporter
Exciting news for the City of Kings and Queens, as the city council has approved Labenmon Private Limited, a Chinese company, to set up a cement grinding factory at Umvumila Industrial Park, near United College of Education.
This significant investment is expected to create over 500 jobs for locals, with priority given to Bulawayo residents.
Cllr Mpumelelo Moyo, chairperson of the finance and development committee, expressed his enthusiasm about the development, saying,
“We first approved this investment as a committee in our meeting of September 26. As chairperson of this committee, I am so happy that we are bringing investment to the city. That is what we want, and we are encouraging potential investors to come on board and invest in the city, the environment is ripe.”
Key Highlights:
- Location: Umvumila Industrial Park, near United College of Education
- Production Capacity: 900,000 tonnes of cement per annum
- Employment Opportunities: Over 500 jobs for locals
- Regional Market: Exports to Zambia, Botswana, and Mozambique
Interestingly, this development aligns with President Mnangagwa’s “Zimbabwe is open for business” mantra and contributes to achieving an upper-middle-income economy by 2030. The company’s presence will not only boost the local economy but also provide employment opportunities from setup to production stages.
It’s worth noting that another Chinese firm is planning to invest in a cement plant in Zimbabwe, with a proposed annual output of 900,000 tonnes in Bulawayo. This suggests a growing interest in Zimbabwe’s cement industry, potentially leading to increased economic activity and job creation in the region.
However, it’s also important to acknowledge that Labenmon Investments’ initial proposal to establish a cement grinding plant in Cowdray Park was rejected by the Bulawayo City Council due to significant concerns.
Fortunately, the revised proposal for Umvumila Industrial Park has been approved, paving the way for this significant investment.
Zim GBC News©2024