Staff Reporter
Magunje, in Mashonaland West, is set for a major economic transformation with the construction of a US$1 billion cement manufacturing plant, a collaboration between Labenmon Investments (Pvt) Ltd and West International Holding.
The project, spearheaded by Chinese investors, is anticipated to create thousands of jobs and significantly boost the local economy, with completion targeted for 2025.
Yesterday, Mashonaland West Minister of State for Provincial Affairs and Devolution, Marian Chombo, expressed optimism about the project’s impact, stating, “The production of cement will create employment for people in the province, aiming to generate 5 000 jobs for locals. The plant’s establishment in Hurungwe is expected to transform the small farming town of Karoi into a more productive and vibrant hub.”
The plant is expected to stimulate growth in industries such as construction and transport, enhancing the standard of living for the local population.
Minister Chombo emphasized, “This project will provide an opportunity for creating a bigger productive town in Karoi, contributing significantly to the manufacturing sector’s provincial GDP, which is currently below five percent.”
Magunje legislator, Cde Super Monga Madiro, welcomed the development, highlighting its potential to reduce Zimbabwe's dependence on imported cement.
“Upon completion, the plant will meet local demand for high-quality cement and high-calcium white ash, cutting down foreign exchange expenditure on imports and supporting infrastructure construction, industrial smelting, and agricultural development,” he noted.
Wang Fayin, President of West International Holding, outlined the broader economic benefits, revealing that the investment would include a new dry-process clinker cement production line with an annual capacity of 2.7 million tonnes, a 100MW power generation unit, and a cement grinding station with a capacity of 900,000 tonnes per year.
"The project will create employment for about 5 000 people, save foreign exchange on cement imports, and increase US dollar tax revenue," Fayin said.
Thomas Chidzomba, the local representative of Labenmon Investments, reaffirmed the company’s commitment to supporting President Mnangagwa’s vision for sustainable investment and rural development.
“Our choice to establish a plant in Magunje is strategic, aiming to foster rural industrialization and contribute to the overall development of the region in line with Vision 2030,” he stated.
This project aligns with Government’s push for rural industrialization, as advocated by President Mnangagwa.
It promises to be a game-changer for Magunje and the broader Mashonaland West Province, providing jobs, boosting local industries, and contributing to Zimbabwe's economic growth and development.
