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Green Fuel of Zimbabwe to invest $1 billion

Staff writer ▼ | January 23, 2014
Green Fuel, Zimbabwe's largest ethanol producer, plans to spend close to $1 billion on expansion in the medium term as the company seeks to become a regional ethanol giant, said general manager Graeme Smith.
Green Fuel
Green FuelGreen Fuel, Zimbabwe's largest ethanol producer, plans to spend close to $1 billion on expansion in the medium term as the company seeks to become a regional ethanol giant, said general manager Graeme Smith.


About $$560 million would be spent on the construction of additional two plants with a combined capacity of 40 million litres of ethanol per month and $$400 million on developing farm land measuring 40 000 hectares.

Mr. Smith said some money would also be invested in upgrading the current plant which would double capacity to 20 million litres. "At the moment, we have 9 500ha and the potential total is around 50 000ha. To develop that, we had a 10 year plan but in the next seven years, we intend to fully develop the entire project to the full potential of 50 000ha. Once developed, we will be producing on an annual basis, figures of around 500 million litres and generate 120 megawatts."

Mr. Smith said once the project is completed, Zimbabwe could stop petrol imports. Zimbabwe $es around 400 million litres of fuel per month. "In other words, we will be in a position to sufficiently produce enough ethanol to fully substitute petrol imports.

The expansion project is expected to create around 16-17 000 jobs bringing the total workforce at the company to 21 000, making it one of the country's largest employer.

Green Fuel has so far invested $$320 million into the project. The plant is currently producing 10 million litres of ethanol per month.


 

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