Platinum Crest Agro Ventures to Build Zimbabwe’s Largest Sugar Mill with USD 170 Million Investment
Platinum Crest Agro Ventures of India signed an LOI with Zimbabwe to build its largest integrated sugar complex, investing US\$170 million. Announced at the India-Africa Summit, the project includes a 3,500 TCD sugar plant (expandable to 10,000 TCD), ethanol distillery, renewable power, job creation, and farmer schemes, boosting Zimbabwe’s trade and rural economy.
New Delhi [India], September 15: In a landmark move to strengthen India-Africa cooperation in agriculture and trade, Indian enterprise Platinum Crest Agro Ventures Pvt. Ltd. has signed a Letter of Intent (LOI) with the Government of Zimbabwe to establish the country’s largest and most advanced integrated sugar complex. The project, with an investment commitment of US$ 170 million, marks a new chapter in bilateral collaboration.
The signing took place during the India-Africa Summit at the Taj Palace Hotel in New Delhi, in the distinguished presence of His Excellency Dr. Constantino Chiwenga, Vice President of the Republic of Zimbabwe, along with Her Excellency Stella Nkomo, Zimbabwe’s Ambassador to India, and senior Zimbabwean ministers. Representing Platinum Crest Agro Ventures were directors Mr. Ritesh Kulkarni, Mr. Sudesh Gavhane, Mr. Nitin Kadam, and Mr. A. Patel.
The project is poised to deliver transformative benefits to Zimbabwe’s economy and people. Key highlights include:
– A 3,500 TCD sugar plant, expandable up to 10,000 TCD, ranking among Zimbabwe’s largest facilities.
– A 60 KLPD ethanol distillery, scalable to 150 KLPD, advancing ethanol blending and export potential.
– 20 MW cogeneration and 5 MW solar power capacity, ensuring a fully renewable energy footprint and enhancing energy security.
– Employment generation with 1,500 direct jobs and approximately 15,000 indirect jobs, fostering rural development.
– Outgrower schemes for thousands of farmers, enabling inclusive growth and prosperity.
– Positioning Zimbabwe as a regional export hub for SADC and COMESA markets, boosting trade competitiveness.
This integrated agro-industrial project is expected to be a flagship model of India-Zimbabwe partnership, aligning with Hon’ble Prime Minister Shri Narendra Modi ji’s vision of deepening India’s engagement with Africa across agriculture, renewable energy, and sustainable trade.
By combining cutting-edge technology, farmer participation, and renewable energy solutions, the sugar complex will not only uplift Zimbabwe’s rural economy but also serve as a benchmark of South-South cooperation.
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Source : The Tribune
