Zimbabwe economic news: Trade with European Union doubles, Kariba expansion partners shortlisted, work on Plumtree - Mutare road


Zimbabwe's electricity situation

Zimbabwe has short-listed 11 bidders for the expansion of its Hwange and Kariba South power plants, with a winner expected to be announced in the third quarter of this year, Energy Minister Elton Mangoma said yesterday.

He said companies from China, India, South Korea, Italy and Brazil were among the shortlisted and the firms have until the first week in June to submit a detailed proposal – NewsDay, Thursday March 29,

The Plumtree to Mutare road

Rehabilitation and widening of the Plumtree-Mutare Highway has started and is expected to be complete in 36 months. Preparatory work for the actual upgrading such as pothole patching, crack sealing and levelling of depressions is already underway in Plumtree.

State-of-the-art equipment that includes a recycler and chip spreaders are already in the country for the commencement of the project.

The recycler is the first of its kind in Zimbabwe and has the capacity to rip off the old tarmac and reconstruct it on the same day and motorists can use the new road the following day. Part of the equipment, which is worth more than $2 mln, was acquired from Germany by Group Five of South Africa that is partnering the Zimbabwe National Roads Administration in the project.

Speaking during a tour of the project in Plumtree on Tuesday, Zinara southern regional engineer Moses Juma said the road will be widened from the current 7 metres to 10 metres. He said the new road will be resurfaced to become the first modern highway in the country to conform to the Sadc protocols – Herald, Friday March 30,

Mwana Africa

London-listed Zimbawean focused miner - Mwana Africa - said on Monday it plans to raise $35 million with a share sale that will bring in a Chinese partner and could fund the restart of a nickel mine in Zimbabwe as well as gold and copper projects in the Democratic Republic of Congo.

Mwana said China International Mining Group Corporation would buy $21.2 million of new shares at 5.5 pence per share, with the remaining shares being sold to institutional investors via a placing at the same price.

Mwana owns a 52.9 percent stake in Bindura Nickel Corporation in Zimbabwe, the only fully integrated nickel operation in Africa, whose assets include the Trojan mine.