The Sunday News
Judith Phiri, Business Reporter
THE Cold Storage Commission (CSC) is negotiating export contracts for beef products to the European Union, Asian and African markets, a development that will boost the country’s foreign currency earnings.
Officially reopening CSC in Bulawayo last week, Vice-President Dr Constantino Chiwenga said the awoken giant will never collapse again and will go a long way in aiding the country’s economic revival strategy.
The massive beef processing plant is being revamped under a US$400 million Joint Venture Farming Concession Agreement with Boustead Beef Zimbabwe, a United Kingdom-based investor.
Speaking during a Post-cabinet briefing on Tuesday, Minister of Information, Publicity and Broadcasting Services, Monica Mutsvangwa said Government’s target is to see CSC rekindling its past glory as a foreign currency earner for the country while increasing its herd.
Infrastructure at three ranches has been rehabilitated and modernised. The CSC board is now in place, and is seized with the accelerated rehabilitation of assets and mapping of a business strategy for the organisation. CSC has initiated a livestock feedlot operation and a micro-finance facility of US$36 million, which at full capacity can finance up to 120 000 head,” said Minister Mutsvangwa.
“CSC is also negotiating export contracts for beef products to the United Kingdom, various European Union member States, Malta, and Middle Eastern, Asian and African markets. Samson Brands has also been incorporated to market the CSC products on the local market.”
She said Boustead Beef currently has a staff complement of 169 inclusive of management and employees and following the take-over, employees started receiving their contractual salaries and benefits.
The Minister said to date Boustead Beef has utilised US$24 million in the rehabilitation of CSC Bulawayo plant.
“This has paved way for an increase in slaughter capacity to 2 000 cattle per day, from the previous 60. Repairs for the Bulawayo Canning Plant have also commenced.
“Infrastructure at three ranches has been rehabilitated and modernised. The CSC Board is now in place, and is seized with the accelerated rehabilitation of assets and mapping of a business strategy for the organisation,” added Minister Mutsvangwa.
She said CSC has initiated a livestock feedlot operation and a micro-finance facility of US$36 million, which at full capacity can finance up to 120 000 head.
