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Walter Mswazie in Masvingo
The Cold Storage Company in Masvingo is now on a recovery path, with Government and new investor, Boustead Beef (Pvt) Ltd, already on the ground working on a raft of measures to bring the company back to profitable ways.

This was said by CSC Masvingo branch manager Mr Ernest Sadzauchi during a recent industrialisation development policy and consumer protection awareness workshop held in the city.

He said a lot of progress had been made to resuscitate the beef giant which used to be the economic mainstay in Masvingo Province.

Cabinet recently approved a US$400 million joint venture deal between CSC and Boustead Beef. The facility will be spread over the next three to four years.

Mr Sadzauchi said the company stood to change the economic configuration of the province and country at large once operations resume.

“For the record, the company is about to be resuscitated following the takeover by a new investor,” he said.

“The company is no longer CSC, but Boustead Beef (Pvt) Ltd.”

Mr Sadzauchi said a lot of value addition was done to the company before its shutdown sometime in 2004 and that 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,” he said.

“Bones were crushed into useful products and so were the tails.

“Our abattoir has the capacity to carry between 500 and 600 beasts daily.

“These beasts are slaughtered, so that we produce quality meat and related products which are then exported thereby attracting the much needed foreign currency.”

Mr Sadzauchi said they were going to re-engage at least 300 former employees when the company re-opens.

He said it was motivating to note that Zimbabwe’s meat products were still sought after on the international markets and that the new investor was working on a number of strategic links to boost production and  exports.

The Herald understands that CSC Masvingo branch owes $1,5 million to service providers, mainly on outstanding water and electricity bills accrued during the 12 years of redundancy .

In addition, the company needs at least $2 million for repairs, another $3 million for working capital and pasture development infrastructure at Mushandike Ranch.

The ranch covers 1 000 hectares and it will require $7 million.