Harare – Chinese investors have established a ceramic tile and porcelain manufacturing company in Zimbabwe.
The ground-breaking ceremony for the $120 million facility was held on Monday about 40 km south of Harare, the Zimbabwean capital, according to the China National News Agency, Xinhua.
The company, Sunny Yi Feng Tiles (Zimbabwe) Pvt Limited, was registered in Zimbabwe in May and all the investors are from China.
Company president Tang Yi said 30 percent of the firm’s products will be sold inside Zimbabwe and the rest exported to neighbouring countries.
“We intend to set up several factories with long-term investment amounting up to 120 million U.S. dollars.
“The company intends to employ 1,600 to 1,700 local workers, including supervisors and general workers.”
He said the project will have a positive impact on the economy and benefit the adjacent communities.
Chinese charge d’affaires in Zimbabwe Zhao Baogang said the new project, the first by Chinese investors since the conclusion in September of the Forum on China-Africa Cooperation summit in Beijing, augurs well for the spirit of cooperation espoused by both sides.
“This is also an important move to support the Zimbabwean government and the development of the Zimbabwean economy,” he said.
Work on the factory is expected to be completed by mid-2019.
Equity Axis News