COTTCO Holdings is set to invest US$3,5 million on two new projects, an oil expression plant and a solar farm, as it seeks to improve efficiency as well as value add the crop and generate more revenue.
Cottco corporate communications manager Constance Makoni-Thodhlana told businessdigest that the solar project will help with uninterrupted ginning processes in the event of power cuts.
“The total cost of the two project is US$3,5 million. Oil expression plant project is US$1,5 million and Muzarabani solar project investment is at US$2 million,” she said.
The oil expression plant, to be set in Gokwe, will be producing 60 metric tonnes per day and approximately 450 metric tonnes weekly.
The oil expression plant is targeted to be completed during the first quarter of 2025, while the solar project, with a capacity to generate 1,2 megawatts, is expected to be completed in the fourth quarter of this year.
The initiatives align with the government's objective of advancing rural industrialization through the use of value addition strategies to strengthen the nation's economy.
As the globe pushes for lower carbon energy, Cottco's initiative to invest in solar energy demonstrates the company's readiness to improve community life.
Because cotton is resilient and adaptable to settings with low water, it is frequently supported as a crop in places that are susceptible to drought.
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Holding 90% market dominance, Cottco is the leading firm in Zimbabwe for the procurement and processing of seed cotton.
Every year, it hires around 400 000 farmers. With six ginneries under its ownership, the enterprise can turn 107 000mt of seed cotton into ginned seed and lint per season.
Additionally, it has ten commercial divisions located in Gokwe, Kadoma, Lupane, Mt. Darwin, Mutoko, Mutare, Muzarabani, Sanyati, Chiredzi, and Kadoma.
