China to set up explosives firm in Zimbabwe to help mining industry
- Source: globaltimes
China will soon set up an explosives manufacturing firm in Zimbabwe that will boost the southern African country's mining industry, China's charge d'affaires Zhao Baogang said Thursday.
He told journalists after meeting President Emmerson Mnangagwa that the explosives firm will also help boost Zimbabwe's economy through foreign currency generation.
"In 2019 we expect that we will have more projects in Zimbabwe. One is the furniture factory and another one is the explosive factory between China and Zimbabwe. This one will be launched very soon and it will help Zimbabwe a lot especially in the development of mining so they don't have to import explosives from other countries.
"After the establishment of this project Zimbabwe will save a lot of foreign currency and the project will also help Zimbabwe earn foreign currency," said Zhao.
He said China is looking forward to implementing more cooperation projects with Zimbabwe in 2019.
China rolled out multi-billion dollar infrastructure projects in Zimbabwe in 2018 as it stepped up bilateral cooperation following the elevation of ties between the two nations from all weather friends to comprehensive, strategic partnership of cooperation in April last year.
Some of the projects include the 300-megawatt Kariba South extension project, the 1.5-billion-dollar Hwange Thermal Power Station expansion, Harare International Airport expansion and the new parliament building.
"We expect that these projects will inject vitality into the bilateral relations. The relations between the two countries will be raised to a new level," Zhao said.
He expressed the hope that Zimbabwe's economy will soon recover and start growing through the reforms being implemented by Mnangagwa's government.
"We have strong confidence in this country. After the efforts by the government we believe that more investments will be attracted, the economy will go back to normal and the country will become prosperous and strong," he added.