Nkosikhona Holdings gets $5,2 billion deal in South Africa
Staff Writer | May 18, 2018
The South African government signed $5,2 billion deal with a South African company Nkosikhona Holdings that will see the country produce over 8 million litres of liquid fuels per day from coal in Lisulu, Hwangwe.
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The deal will be actualised under a Memorandum of Understanding (MoU) signed between Verify Engineering Private Limited, an agent of the Ministry of Higher and Tertiary Education, Science and Technology Development and Nkosikhona Holdings.
The deal will see the beneficiation of coal for the production of liquid fuels, fertilisers and chemicals.
It also covers coal production and the setting up of the beneficiation plant.
The plant will be established in the Lisungu area of the Zambezi basin where coal is available in abundance.
The project has a potential to produce 8 million litres of various forms of liquid fuels daily against the national consumption of about five million litres a day.
It will produce fuels and energy products like petrol, diesel, gas, oxygen, waxes, compounds for agriculture such as fertilisers, tar for the roads and solvents like plastics.
It is premised on a build-operate arrangement.
A ground breaking ceremony for the plant is scheduled for June 1 this year while mining operations will start in September.
It will take at least three and a half years before the country starts benefiting from the value addition and beneficiation.
The project will operate under the joint venture company, Vectol Zimbabwe (Pvt) Ltd. ■ What to read next
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