The proposed $1 billion investment in the Zimbabwe Iron and Steel Company by a Chinese investor is hanging in the balance amid indications the Government may consider floating a new tender to invite new investors.

Ziscosteel requires $1bn to kickstart operations

Legal implications would be weighed before terminating the deal. This comes after Parliament this year passed legislation for the assumption of Zisco debts — $495 million — to make the former steel giant more attractive to investors and pave way for its revival.

ALL SHARE:

The All Share index closed the week on a high note adding 1.94 points (1,71 percent) to close at 115.12 points. Cafca led the movers with a $0,1407 gain to close at $0,8550, Delta traded $0,0749 higher at $2,2000 and Old Mutual added another $0,0500 to end at $5,3500. Econet also went up by $0,0463 to settle at $1,2360 and SeedCo recovered $0,0400 to close at $1,9000. Trading in the negative was Innscor which traded $0,0113 lower at $1,3500, Proplastics was $0,0096 down at $0,1004 and OK Zimbabwe lost $0,0054 to trade at $0,2296. Turnal also decreased by $0,0034 to settle at $0,0207 and Dawn Properties (DAWN.zw) traded $0,0008 weaker at $0,0232.

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