Zimbabwe has sealed a major car assembly agreement with a leading Indian manufacturing giant. The deal was finalised at the prestigious India Africa Business Conclave in New Delhi by a high-level delegation headed by the nation’s Vice President, Dr Constantino Chiwenga.
The partnership will see Harare’s Willowvale Motor Industries join forces with the renowned commercial vehicle manufacturer Ashok Leyland. This collaboration is the triumphant conclusion of negotiations that began in 2021, were revitalised last year, and have now culminated in a full assembly contract. Production is scheduled to commence in January of next year.
Zimbabwe Secures Massive Car Assembly Deal With India Car Manufacturing Giant
This long-anticipated agreement is heralded as a victory for Zimbabwe’s economic ambitions. It is projected to create substantial employment opportunities and significantly boost the country’s domestic manufacturing capacity, aligning perfectly with the government’s drive towards industrial self-sufficiency.
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Vice President Chiwenga hailed the signing as a testament to the growing economic ties between the two nations. He stated,
“Zimbabwe and India’s economic cooperation continues to grow from strength to strength as epitomised by today’s signing of the agreement. This is a landmark achievement, an example of how strategic partnerships create value chains, jobs and growth.”
Elaborating on the government’s vision, he added,
“We are seeking partnerships to grow our economy through the creation of value chains and beneficiation, leveraging on our comparative advantage as an investment destination of choice.”
Sweetening the Pot: A Mega Investment in Sugar
Beyond the automotive sector, the business conclave yielded further sweet news for Zimbabwe’s economy. A separate US$170 million project for an integrated sugar complex has captured the interest of Indian investors. The ambitious venture, spearheaded by Platinum Crest Agro Ventures, promises to revolutionise the entire sugar value chain in the country.
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The Vice President’s itinerary also included high-level discussions on the country’s energy needs. Dr Chiwenga met with Naveen Jindal, Chairman of the Jindal Group, to review ongoing projects with the Zimbabwe Electricity Supply Authority (ZESA). A prior Memorandum of Understanding for the refurbishment of Hwange Thermal Power Station’s Units 1 to 6 is set to add a crucial 800MW to the national grid.
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The post Zimbabwe Secures Massive Car Assembly Deal With India Car Manufacturing Giant appeared first on iHarare News.
