Business

Zambia’s UCF Eyes A Significant Investment Of US$700 Million In Zimbabwe’s Fertilizer Sector.

Zambia’s UCF Eyes A Significant Investment Of US$700 Million In Zimbabwe’s Fertilizer Sector.

Zambian firm, United Capital Fertiliser Limited (UCF), will invest US$700 million in the supply of fertiliser and the construction of two fertiliser manufacturing plants in Zimbabwe, NewsDay Business can report.

The development is set to make fertiliser available and lead to a reduction in the price of the commodity.

The construction of the compound D plant will begin early next year.

Concurrently, UCF is on track to deliver 30 000 tonnes of Urea and Compound D, apiece, for 2023/24 Zimbabwe farming season.

UCF is a wholly owned subsidiary of Wonderful Group of Companies Limited, a diversified, highly recognised and respected industrial conglomerate.

The group is a Zambian industrial development investment firm that specialises in pioneering greenfield manufacturing firms and managing brownfield industries. The holding company was founded and is run by a Chinese national Huang Yaochi.

ALSO READ: Minister Urges Support For Smes In Registering And Managing Intellectual Property.

“Zambia-based regional fertiliser manufacturing giant, UCF Limited is set to invest US$700 million in the supply of fertilisers and construction of Compound D and Urea fertiliser manufacturing plants in Zimbabwe as part of its regional expansion plans,” UCF said, in a statement yesterday.

“US$200 million allocated for the supply of fertilisers and construction of the fertiliser and coal mining production plants in 2024 and US$500 million for Urea manufacturing plant.”

UCF said the investment provided job opportunities for the local population in addition to bolstering Zimbabwe’s agricultural sector, food security and rural livelihoods.

The company revealed that Zimbabwean authorities toured the operations of the Wonderful Group of Companies in Zambia including UCF and have already signed a memorandum of understanding.

UCF recently took a significant step towards the implementation of its regional expansion plans by listing a US$500 million bond on the Botswana Stock Exchange at an  event last week in Gaborone.

“The historic move reinforced the company’s firm position as a leading player in the Africa fertiliser market and marks a new chapter in its ambitious regional growth strategy,” UCF said.

 

Related Articles

Back to top button