IDC courts partner for Sunway project

however, crippling the IDC subsidiary with the huge tracts of land at its 1 600-hectare industrial park located just over 10 kilometres east of Harare still not developed.
Sunway City marketing executive Mr Takesure Chimenya told journalists during a media tour that talks with potential partners were ongoing.
“We are looking for equity partners to come in and take up 49 percent in line with indigenisation regulations,” he said.
“A lot of potential partners have come in from South Africa and China. We are in discussions with them to take up the 49 percent stake.”
He said the equity partner would bring in the much-needed capital for infrastructure development.
The media tour revealed that at least five companies including another IDC subsidiary Chemplex, brick manufacturer Vaka Africa and textile company Dongienic have already set up operations in the industrial park.
Housing development is also underway in areas that have been serviced. Sunway City has also partnered with the Ministry of National Housing and Social Amenities to service and develop part of the area.
Sunway City general manager Mr Kwaku Dzvukumanja said the Ministry of National Housing and Social Amenities invested a total of US$1,7 million in the project. The Sunway City officials said the industrial park, which has national project status, would be Zimbabwe’s industrial hub.
“The world is going high tech and we want to bring high tech here and then transfer the technology into the region since Zimbabwe is centrally located,” said Mr Chimenya.
IDC’s public relations advisor Mr Derek Sibanda said the project was one of national importance.
“We look at this project as a legacy project with a national flair that if we look beyond maybe a decade or so from now it would be the hub of all industrial activity in the region offering a one-stop shop for all sectors ranging from residential, industrial, recreational to institutional and commercial,” he said. IDC and its partners would develop the industrial infrastructure before leasing it. — Business Reporter-New Ziana.