NSSA ready to bankroll the project
The local Cold Storage Company (CSC) Masvingo depot is set to resume operations in 2018 following a deal which will see National Social Security Authority (NSSA) injecting US$20 million into the revival of the plant.
CSC Masvingo has the potential to become the single biggest employer in town if operations are resumed.
Breaking the news in an exclusive interview with TellZim News this week, the deputy minister of Lands, Agriculture and Rural Resettlement, Davis Marapira said he was pleased to announce that CSC will be revived by end of 2018.
"We are certainly going to see the revival of CSC within the next 12 months. As we speak right now, NSSA has since offered to put $20 million so that CSC can begin to operate again. This is almost a done deal, we are going to see full operations at CSC in 2018," said Marapira.
Apart from NSSA, Marapira said there were other private players who are going to inject more capital so that the beef producing giant will be able to run at full capacity.
"We have other private individuals and organisations who are going to inject capital at CSC. I can assure you that we will have CSC resuming normal operations very soon," added Marapira.
Before it crumbled, CSC was one of the biggest employers in Masvingo.
If it is fully revived, CSC has the capacity to employ over 1000 people thereby creating the much needed jobs.
NSSA marketing and communications executive Tendai Mutseyekwa could not be reached for a comment by the time of going to print.local