Published: 27 July 2013

Production of ethanol has resumed at Chisumbanje plant after Green Fuel Private Limited agreed to form a joint venture with the government.

The joint venture is on a 51/49 percent basis and conforms to requirements of Zimbabwe's indigenisation and economic empowerment law.

In a statement on Friday, Green Fuel confirmed that production of anhydrous ethanol has resumed with immediate effect.

The ethanol is used for blending with petrol.

The company also announced that the implementation and modalities of the joint venture are being finalised with government.

The development will ensure the security of 4 500 jobs created by the project to date while blending of petrol is expected to reduce the commodity's price.

If blending of petrol is fully implemented, Zimbabwe will reduce its petrol import bill with experts estimating the country can save up to US$120 million annually.
- zbc

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