Hunan Nanling Industry Explosive Material Co Ltd has announced plans by its Hong Kong joint venture (JV) to set up an industrial explosive materials production project in Zimbabwe. The first phase of the project will see the company together with its unnamed local partner construct a 12 000 tonne emulsion explosives fixed production line.The expected construction period of the first phase is 12 months.
The total investment is 1,06 billion yuan ($245 million).
Hunan Nanling Industrial Explosive Materials said the Hong Kong JV New World (Hong Kong) International Development Limited) had been set up specifically in line with the Chinese Government’s external investment policy.
Hunan Nanling Industrial Explosive Materials is principally engaged in research, development, manufacture and sale of civil explosive materials, military products and civil explosive professional equipment, as well as blasting and logistics business.
The firm’s products and services can
be divided into industrial explosives,
industrial detonating cords, industrial detonators, engineering blasting operations, and transportation and distribution
The Zimbabwe project’s line of business will include: production of emulsion explosives and ANFO; non-electric blasting assembly detonator; distribution and sale of civilian blasting equipment; civilian blasting equipment to provide technical advice, blasting services and mining services.
According to Hunan Nanling Industrial Explosive Materials the setting up of the joint venture in Hong Kong, and the investment into the Zimbabwe project have been approved by the Hunan Provincial Department of Commerce.
Chinese investment into Zimbabwe has maintained an upward trajectory, especially after President Robert Mugabe’s State visit to China in December last year where he and Chinese President Xi Jinping signed 10 investment deals. – BH24/Reuters.