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Chinese regional fertilizer manufacturing giant, United Capital Fertilizer [UCF] is to invest US$700 million in the manufacturing of fertilizer in Zimbabwe as part of regional expansion plans.
The construction of fertilizer manufacturing plants is set to commence early next year with the Compound D plant and this contributes to the self-sufficiency of fertilizers in the country.
The move is set to bolster the agricultural sector, promoting food security boosting rural livelihoods, and creating employment for local people.
UCF took an important step toward the implementation of its regional expansion plans by listing a US$500 million bond on the Botswana Stock Exchange at the event held in Gaborone.
The historic move reinforced the company’s firm position as a leading player in the African fertilizer market and a new chapter in regional growth strategy.
The group has experience and expertise in fertilizer manufacturing especially coal-to-urea technology as well as mining and operation of coke oven batteries.
It is the largest producer of Compound D fertilizers in the Southern African Development Community [SADC] through its production plant based outside Lusaka Zambia where it invested about US$250 million and is currently constructing a production plant costing US$595 million in Zambia.
This agricultural season UCF has supplied fertilizers to many countries in the SADC and it has demonstrated a strong commitment to sustainable agricultural practices promoting regional trade and supporting economic growth in the agricultural sector.
The founder of the fertilizer company Huang Yaochi they were excited about the development.
Huang said: “We are particularly excited at the opportunity to bring our expertise in building large-scale industrial plants into Zimbabwe, specifically in the fertilizer production sector. We will commence construction of a state-of-the-art fertilizer manufacturing plant in early 2024, which will contribute to the attainment of self-sufficiency in the supply of Compound D fertilizer in Zimbabwe. We have successfully done this in Zambia and we can do the same in Zimbabwe in time for the 2024/25 agricultural season”.
With this opportunity to expand into Zimbabwe, UCF is poised to penetrate a new market and diversify its portfolio further. The company’s strong focus on innovative research and development ensures that it will continue to deliver cutting-edge fertilizer solutions to meet the evolving needs of farmers across the continent.
As a leading fertilizer manufacturer, the company acknowledges the critical role it can play in promoting sustainable agricultural practices, mitigating environmental impact, and enhancing the continent’s self-sufficiency in food production.
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