The Zanu-PF leadership here has given the Zimbabwe Bio-Energy the green light to set up a US$500 million ethanol plant at Nuanetsi Ranch in Mwenezi in a development expected to help the province attain targets set under Zim-Asset. The proposed ethanol plant is expected to employ nearly 5 000 people while thousands of out- grower farmers are expected to benefit by supplying sugar cane. Zimbabwe Bio Energy is a joint venture between a group of private investors and the Development Trust of Zimbabwe. Masvingo Zanu-PF acting provincial chairman Cde Paradzai Chakona said the opening of the ethanol plant in Mwenezi was part of the province's targets under the accelerated implementation of Zim-Asset. ZBE initially wanted to invest in the plant in 2008 but the political leadership at the time failed to offer the company sufficient guarantees on the availability of land for the project. Cde Chakona said ZBE was welcome to immediately invest in the plant. "We are looking for investors like ZBE which is prepared to set up an ethanol plant in Mwenezi using water from Tokwe-Mukosi dam. "We need people who will use water in Tokwe-Mukosi so that the dam does not become a white elephant. We want investors who create jobs for our people in line with Zim-Asset," he said. He said the Zanu-PF leadership in Masvingo wanted investment that improves the lives of people. The plant will also benefit nearly 3 000 families displaced by the Tokwe-Mukosi dam who are expected to venture into commercial sugar cane production at Nuanetsi Ranch and supply their cane to ZBE. The proposed ethanol plant at Nuanetsi has already received support from the business community in the province that hopes to exploit the opportunities presented by the multi-million dollar investment. If the Mwenezi ethanol project materialises, it becomes the second such investment project after the Green Fuel in Chisumbanje.