A Chinese company – China Africa Sunlight Energy Limited (CASE) – has given $10m towards construction of the long waited Gwayi dam as the company was awarded mining rights for Zimbabwean coal mining.
As a joint veneture between local vehicle company, Old Stone Investments, and Shandong Taishan Sunlight, the company has experience in construction undertakings. The company will start off coal mining project by 2015.
China Africa Sunlight Energy Limited general manager, Retired Colonel Charles, has said that their company has the financial capability to undertake the project within the time frame set for the mining project.
According to him, CASE has also set aside $2.1bn for the development of an underground coal mine and building a 2,100-megawatt plant by 2016.
CASE is expected to start off mining operations in Zimbabwe, from November this year.
The company is targeting to produce three million tonnes of thermal coal, one million tonnes of washed coal, and 500 000 metric tonnes of cocking coal per year.