HARARE – Old Mutual scaled up its appetite for investment into Zimbabwe’s platinum mining district of Ngezi on Wednesday, with an announcement that it will be establishing a top end private hospital and industrial park there in the coming months.
The Australian Stock Exchange listed platinum mining group, Zimplats, has operations in the district where its expansion has been attracting investors who see robust opportunities arising as the population grows.
The project will be undertaken by Old Mutual Life Assurance Limited, and adds to a magnificent shopping centre completed by Old Mutual Properties in 2010.
The financial services group, which has its stocks trading on the Zimbabwe, Johannesburg and London stock exchanges, did not disclose how much it will spend on the multipurpose facility that will house two key factories.
However, it said plans were advanced, and an environmental and social impact assessment was underway.
“The industrial park will be established on 15-hectare land directly opposite Wanganui High School,” Old Mutual said in a statement.
“The scope includes establishment of seven stand-alone state of the art industrial shells to accommodate to accommodate diverse industrial activities. Project activities include road network, water supply, sewer network, electricity supply, communication and other related support services. Electricity, water, sewer and other service requirements for the development will be supplied from the existing RDC and ZETDC infrastructure which are proven to have adequate capacity for current and future development. One of the industrial shells will be occupied by ball technology foundry that will be manufacturing high chrome balls used in the processing of platinum and other related customers. The factory will employ 200 people and substitutes importation of raw materials,” said the statement.
“The private hospital will be on 12 hectares and directly opposite the Turf Village. The hospital is being designed to cater for standard hospital operations. The development project is in the planning phase during which the technical designs and ESIA processes are running concurrently,” said the statement,” said Old Mutual.