Walter Mswazie in Masvingo
THE Cold Storage Company (SC) Masvingo branch will soon be fully operational as the new investor, Boustead Beef (Pvt) Ltd, has started working on resuscitating the plant, an official said.
Contributing during a Zimbabwe National Industrialisation Development Policy and consumer protection awareness workshop yesterday, CSC branch manager Mr Ernest Sadzahuchi said much progress has been made to resuscitate the beef giant, which used to be a key economic player in the province.
The revival of CSC is being done under a US$400 million joint venture deal between CSC and Boustead Beef (Pvt) Ltd, which was approved by Cabinet some months back. The facility will be spread over the next three to four years.
“For the record the company is about to be resuscitated following the takeover by a new investor. The company is no longer CSC but Bousted Meats,” said Mr Sadzahuchi.
He said there was a lot of value addition done at the company before its shutdown in 2004. A number of companies benefited from the operations.
“The company provided a platform for a number of companies to remain afloat as it used to maximise on value addition. Bones were crushed into useful products and so were the tails.
“Our abattoir has the capacity to slaughter about 500 or 600 beasts a day. We produce quality meat and other products, which are exported thereby earning the much-needed foreign currency,” said Mr Sadzahuchi.
He said the opening of CSC would see about 300 former employees being reinstated before the company recruits more workers. CSC would seek to leverage on the local and international market where it hopes to tap into existing strategic links. The Masvingo branch has a debt of US$1,5 million being outstanding water and electricity bills that accrued during the last 12 years.