JUST IN : CSC secures investor
The government says it has identified a foreign investor to revive the Cold Storage Company (CSC) with the refurbishment and operationalisation of the parastatal’s abattoirs expected soon.
The financially constrained CSC is expected to make a comeback as the investor has agreed to inherit the parastatal’s US$36 million debt.
The Minister of Lands, Agriculture, Water, Climate and Rural Resettlement Retired Air Chief Marshal Perrance Shiri said the development will see Bulawayo, Masvingo and Chinhoyi abattoirs resume operations soon.
“I can confirm that an investor has been found and they will take over the CSC debt which is around US$36 million. We will allow them to use CSC facilities for an agreed number of years, but CSC ultimately remains the property of the government. All paper work is in place, what is left is for the company to implement the agreed terms, “he said.
Minister Shiri said while the government has already started implementing the Command Livestock Programme in order to enhance the sector, the investor will also be expected to introduce a contract farming facility.
The revival of CSC which used to be the largest meat processor on the continent is envisaged to see the resumption of beef exports in the nearest future.
In a bid to boost the economy and create jobs for the people, government is on a massive drive to resuscitate ailing companies across the country.
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