Mnangagwa approves projects worth $5.3 billion for immediate implementation


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President Emmerson Mnangagwa has approved 11 projects worth $5.3 billion for immediate implementation after they were processed by the One-Stop Investment Service Centre.

Details about the projects are still scanty but they are:

  1. Joint venture partnership between Verify Engineering P/L and Magcor Consortium Group of Companies on coal to fertilizer manufacturing- valued at US$750 million.
  2. Joint venture partnership between Verify Engineering P/L and Magcor Group of Companies on the manufacture of medical and industrial gases- valued at US$5.3 million.
  3. The Zimbabwe FINCOMECO on the establishment of a Warehouse Receipt System and Agriculture Commodity Exchange in Zimbabwe- valued at US$81.365 million.
  4. Joint Venture partnership between the Cold Storage Commission (CSC) and Boustead Beef (Pvt) Ltd on the Livestock Joint Farming Concession- valued at US$130 million.
  5. Joint venture partnership between Mindlink Holdings and government of Zimbabwe on establishment of a bullion bank- valued at US$2 billion.
  6. Joint venture partnership between Hondius Capital Management, an asset management firm, and the Infrastructure Development Bank of Zimbabwe on infrastructure development through establishing the Zimbabwe Infrastructure, Housing and Development Bank- valued at US$800 million.
  7. Surewin (Pvt) Ltd, a Chinese company, on mining and processing granite in a Special Economic Zone- valued at US$20 million.
  8. Afrochine (Pvt) Ltd, a Chinese company, on ferrochrome mining and smelting in a Special Economic Zone- valued at US$200 million.
  9. Nkonyeni Agriculture Hub incorporating Bonded Warehouses, Inland Trading Port and Agro-Processing in a Special Economic Zone- valued at US$200 million.
  10. Iron and Steel Company for manufacturing iron and steel in a Special Economic Zone- valued at US$1.1 billion; and
  11. Berhard Development Corporation (Pvt) Ltd on diamond processing, diamond training school and Diamond Exchange Trading Special Economic Zone- valued at US$53 million.

 

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The Insider

The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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