British Firm Partners Government to Set up $150mln Ethanol Plant
(The Source/New Zimbabwe) … Sunbird Bioenergy has partnered government to set up a $150 million ethanol operation in Zimbabwe next year, an official has said. The deal will see the establishment of an ethanol plant with capacity to produce up to 120 million litres of ethanol annually and generate 33 megawatts of electricity from biomass.
Zimbabwe will hold a 10 percent stake in the operation which will progressively be increased to 51 percent over 10 years.
Speaking after signing the deal with government officials on Thursday, Sunbird Bio Energy chief executive Richard Bennet said $60 million would go towards plant construction while $90 million would finance an agriculture development programme.