Zimbabwe economic news: Schweppes, ZIA, ethanol plant, Hwange Colliery Company
Schweppes Zimbabwe Limited plans to commission a $12.5 mln juice production line at its Harare plant by December this year, a move that would boost its production capacity. Speaking on the sidelines of the signing of the Competition Compliance Programme and Agreement with the Competition and Tariff Commission on Thursday, Schweppes Zimbabwe Limited managing director Charles Msipa said the production line would increase the company’s production lines from the current three to four.
“We have ordered a new production line and civil works have already started. The new line of production is expected in the country in September this year while operations will commence in 2012,” said Msipa. Schweppes becomes the first company in Zimbabwe to sign a voluntary competition compliance agreement with the CTC. - The Herald.
Zimbabwe Investment Authority
The Zimbabwe Investment Authority has approved 75 projects with a projected value of $906 mln in the first 5 months of the year. This compares with 72 projects with a value of $104 mln in 2010, reflecting an 88.49% increase in value terms. - NewsDay
Zimbabwean ethanol plant
The first phase of the $600 mln ethanol plant in Chisumbanje is expected to be operational in the next 60 days with a production capacity of 40 mln litres of fuel expected by December this year. The project is a joint venture between government through Agriculture Rural Development Authority and a private company - Green Fuel Private Limited. ARDA chairman Basil Nyabadza, said the required equipment to finish the plant had arrived in the country from Brazil. – The Herald,
Hwange Colliery
Hwange Colliery Company has clinched a $3.6 mln coking coal export deal with India as part of the company’s export drive.
Under the deal the first consignment of about 20 000 tonnes of coking coal is expected to be dispatched from Hwange to India before the end of the month. HCC said this would be the first-ever consignment of coal to be moved by a Zimbabwean company to the Asian country targeting its vast steel-making industry. – NewsDay.