Livetouch Investments plans new US$30m plant in Zimbabwe

Livetouch Investments has announced plans to invest US$30m for a new plant in Hwange, Zimbabwe. The facility is expected to be set up by the end of the year and would run alongside the company’s other plant in the area, which was inaugurated in 2017.

"Our medium-term plan is to put another plant in the Hwange area, which will produce 100,000t of cement per year. We are expecting to commit US$30m into this project," said Dongning Wang, CEO, in an interview with NewsDay.

The Chinese company reportedly faced many challenges in 2018, including a shortage of raw materials.

"We faced shortage of raw material due to forex issues. Also, people do not have enough money to buy our products. We produced about 60,000t of cement in 2018 and in 2019 we are targeting the same figure. In terms of investment, in the Kwekwe plant we have put about US$40m," said Mr Wang.