*President Mnangagwa launches US$3.6 Billion Palm River Energy Metallurgical Special Economic Zone in Beitbridge* *_View, Follow And Forward Our Channel For More Hot Topics_* 👇🏽 https://whatsapp.com/channel/0029VaDpfSeGehEJGxtW140p PRESIDENT Mnangagwa has carried out a symbolic ground-breaking ceremony and plaque unveiling of the US$3.6 billion Palm River Energy Metallurgical Special Economic Zone project here in Beitbridge.This marks an example of growing investor confidence in the country under the Second Republic. The landmark initiative has the potential to significantly transform the economy of the Matabeleland region, boosting industrial development and job creation. Vice President Dr Constantino Chiwenga, Vice President Kembo Mohadi, Minister of State for Matabeleland South Provincial Affairs and Devolution Dr Evelyn Ndlovu, Finance, Economic Development and Investment Promotion Minister Professor Mthuli Ncube, Mines and Mining Development Minister Winston Chitando, Chinese embassy officials, several mining sector players, and Beitbridge community leaders witnessed the event. The President and his delegation toured the industrial park. The occasion marks a significant milestone in Zimbabwe’s economic development journey. With its focus on energy, mining, and value addition, the project has the potential to transform the Matabeleland region into a hub of industrial activity and economic growth. The initiative is expected to play a crucial role in strengthening Zimbabwe’s mining and energy sectors. The project was set up following discussions between the company’s chairman and President Mnangagwa, who directed that it be established as an integrated mining and energy park. Palm River is a multi-faceted project that will encompass mining, power generation, coke production, and steel manufacturing. The project, which will ultimately produce stainless steel, is being implemented in phases. The project covers an area of 5,163 hectares and is planned to be constructed in five phases, with a total construction period of 12 years. The construction period for the first phase of the project is two years, with a total investment of US$237 million, mainly used for the construction of an annual output of 200,000 tonnes of ferrochrome and supporting coal mines, coking, infrastructure, and other projects. In 2018, President Mnangagwa declared Beitbridge a Special Economic Zone as part of the Second Republic’s broader strategy to attract investment under the “Zimbabwe is Open for Business” policy. The Government’s adoption of the SEZ model aims to enhance foreign direct investment (FDI), improve local business competitiveness, and drive economic growth.