Beitbridge to receive Mongolia’s Ferrochrome Processing Giant

by | Mar 12, 2024 | Business, International, Local News | 0 comments

Beitbridge to receive Mongolia’s Ferrochrome Processing Giant

Brian Rungano Temba

 

China-Zimbabwe relations in business are getting more beneficial for Zimbabwe with investment pouring into value addition.

 

Via Engagement and Re-engagement efforts through Finance Ministry, Mongolia’s largest Ferrochrome Processing Company ;XGL Group has invested in a number of projects in Zimbabwe including a coking and Ferrochrome Processing plant in Beitbridge.

 

In a post made yesterday via X (formerly Twitter) by the Ministry of Finance, Economic Development and Investment Promotion, Min Prof Mthuli Ncube was on a tour in Asia where he met the investors in question and got a full appreciation of what to expect in Beitbridge.

 

“The Hon. Min today met the President of the XGL Group Zhou Xudong & the Mayor of Fengzheng Li Ying as he toured the world’s largest & highly automated Ferrochrome Processing Plant in Mongolia, China.

 

“Under an MOU, XGL Group has invested in a similar project in Beitbridge where the gov is a shareholder of Tuli Coal Mine. The Company has invested in other ventures: a coking coal plant, a power plant, & a ferro chrome smelter. They have been granted special economic zone status,” read part of the Post.

 

The Ministry also highlighted the skills share and capacity building for the Zimbabwean counterparts to have the same skills as their Chinese investment partners.

 

“This massive investment will transform the face of Beitbridge & boost its socio-economic development.

Plans to twin Beitbridge & Fengzheng were proposed, whilst a Skills Transfer Programme is ongoing with the Harare Polytechnic.

 

Cooperation between Zimbabwe & China will result in joint ventures on railway infrastructure development and mining sector value addition and beneficiation so as to increase the contribution of the mining sector from 13% to 18% of GDP.

 

#ZimbabweIsOpenForBusiness,” read the post.