A British investor, Boustead Beef Limited, last week began refurbishing the Cold Storage Commission (CSC)’s abattoir in preparation for its re-opening, the Southern Eye reported.
This comes after the government entered into a partnership agreement with Boustead Limited to revive CSC in 2019.
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The United Kingdom-based firm undertook to inject about US$130 million into CSC over five years to revive operations, refurbishing the industrial assets, ranches, feedlots and residential properties.
During a tour of the company premises last Friday, Boustead Beef consultant Reginald Shoko said the recapitalisation process was starting with the refurbishment of the abattoir. Said Shoko:
The engineers are busy with the refurbishment of the Bulawayo plant, which might take around three weeks while waiting for the new condensers which were imported from China and then the plant will be commissioned.
We are also busy arranging resuscitation of dip tanks across the ranches in order to help farmers in cattle management to contribute to the national herd.
In December, the government moved to avert the liquidation of CSC by placing it under a corporate rescue plan.
The company has been struggling with viability challenges over the past years and faced the risk of liquidation as creditors demanded their dues.
CSC creditors include urban councils (Harare, Bulawayo and Chinhoyi), NSSA and ZETDC. They are demanding the settlement of their arrears.