Staff reporter
Magunje community in Mashonaland West Province is celebrating the establishment of a US$1 billion cement manufacturing plant, a partnership between Labenmon Investments (Pvt) Ltd and West International Holding Limited.
This major development, initiated by Chinese investors, is expected to significantly boost the local economy and create thousands of jobs, with completion slated for 2025.
In an interview yesterday, Mashonaland West Province’s Minister of State for Provincial Affairs and Devolution, Marian Chombo, expressed optimism about the project's potential impact.
“The production of cement will create employment for people in the province, as it aims to create 5,000 jobs for locals.
“The plant’s establishment in Hurungwe is expected to transform the small farming town of Karoi, currently buoyed by tobacco and cereal production, into a more productive and vibrant hub,” said Minister Chombo.
Minister Chombo emphasized that the new plant would also stimulate growth in industries like construction and transport, improving the standard of living for the local population.
“The coming in of this project will provide an opportunity for creating a bigger productive town in Karoi. The plant will contribute to the manufacturing sector’s provincial Gross Domestic Product (GDP), which is currently below five percent," Minister Chombo added.
Magunje legislator, Cde Super Monga Madiro, also welcomed the project, noting its potential to boost the local economy and reduce the country’s dependence on imported cement.
“Upon completion, the plant is expected to fill the local demand gap in the market for high-quality cement and high-calcium white ash, reducing foreign exchange expenditure caused by the import of clinker and white ash while meeting the infrastructure construction demand, industrial smelting, and agricultural development,” he said.
President of West International Holding Limited, Wang Fayin, highlighted the broader economic benefits of the project.
“The investment will 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 an annual capacity of 900 000 tonnes. The project will also create employment for about 5 000 people, save a lot of foreign exchange for Zimbabwe from cement imports, and increase US dollar tax revenue,” explained Fayin.
Labenmon Investments’ local representative, Thomas Chidzomba, reaffirmed the company’s commitment to supporting President Emmerson Mnangagwa’s vision by promoting sustainable investments and value addition.
“Our choice to establish a plant in Magunje is strategic, aiming to foster rural industrialization, thereby contributing to the overall development of the region and the realization of Vision 2030,” he said.
The development is a testament to the Government’s push for rural industrialization, as advocated by President Mnangagwa.
The project promises to be a game-changer for Magunje and the broader Mashonaland West Province, providing much-needed jobs, boosting local industries, and contributing to Zimbabwe's economic growth and development.
