Greenfuel, a company owned by Zimbabwean millionaire, Billy Rautenbach has invested $500 million into a Zambia ethanol project with latest acquisition of 30,000 hectares of land for a sugar cane plantation Luapula province.
“Under the programme, the Zimbabweans firm will build a sugar, ethanol and molasses processing plant and the $500 million investment is expected to create about 5,000 jobs,”said Chanda Kasolo Zambian government official
The latest investment by Greenfuel in Zambia’s Luapula province comes after a UK based Sunbird Group entered into a partnership with Mahtani Group recently to construct another US$150 million ethanol plant in the same province to boost the country’s energy sector.[eap_ad_2]
The energy and mining sector are the two most important drivers of growth in Zambia although the energy sector can have a more transformative impact as it has a direct bearing on all avenues of society.
Zambia has abundant hydroelectric resources and meets most of its energy needs from its own hydroelectric stations, with 99.9 percent of produced electricity coming from hydro sources.
Installed electricity generation capacity in Zambia is at about 1,789 MW out of which 1,676 is hydropower despite the nation’s undeveloped generation capacity of about over 6,000 MW. (VENTURES AFRICA)[eap_ad_3]