The Sunday News
Dumisani Nsingo, Senior Business Reporter
MEAT processing and marketing giant, Cold Storage Company (CSC)-Boustead Beef Zimbabwe is expected to start fully operating its Masvingo and Bulawayo plants before the end of the year, a Government official has said.
In an interview with Sunday News Business last Thursday, Agriculture, Lands, Water, Climate and Rural Resettlement Deputy Minister Vangelis Peter Haritatos said the Government was satisfied with the progress being undertaken by meat marketer and processor’s newly found investor, Boustead Beef Zimbabwe.
“CSC was mothball for many, many years and certainly they (the investors) have their challenges. We meet every two weeks with the investor, they update us regularly. It’s work in progress, we have been told that probably by October the Masvingo plant will be opened and then followed by the Bulawayo plant before the end of the year,” he said.
Deputy Minister Haritatos said there was a need for patience as the investor works on recapitalising the company as it involves huge capital investment.
“Let’s not be rough or harsh on our investors, they are our partners and like I said they do come every second week and update us constantly. So certainly progress is there. There is a lot that they have procured for example all the cold room units in Masvingo had to be replaced.
“All those are coming in brand new and you know with CSC, the business is the cold rooms . . . let’s give them time but I’m very confident that by the end of this year, we will have CSC functioning at least at 50 percent,” he said.
Early this year, Boustead Beef Zimbabwe, which is being financed by various equity investors from the United Kingdom, United States, Switzerland, Hong Kong and Australia affirmed massive capital injection of US$400 million to be spread over the next five years towards the revival of the company.
Contacted for a comment CSC-Boustead Beef Zimbabwe managing director Mr Nick Havercroft said a lot of progress has been undertaken but could not be drawn to shed more light insisting that he had to first appraise Agriculture, Land, Water, Climate and Rural Resettlement Minister Retired Air Chief Marshall Perrance Shiri.
“It’s not just reviving the abattoir in Bulawayo, it’s also about the supply of cattle whereby we are doing a lot of work putting in place farmers and pastures as we can’t continue because of this drought. We have a new positive business plan being put together. The abattoir is only 20 percent of the business and 80 percent are the farmers,” said Mr Havercroft.
The company’s biggest abattoir is in Bulawayo and it also has other operations in Masvingo, Marondera, Chinhoyi and Mutare.
