adminMidlands Correspondent
A JAPANESE investor, Yakushuku Manufacturing Company will soon set up a $25 million cotton ginning factory and yarn cotton manufacturing plant in Redcliff Town after negotiating a deal with the local authority. In an interview, Redcliff Mayor, Councillor Freddy Kapuya said the Redcliff Municipality was still negotiating with the Japanese company so that they finalise the deal, which is likely to rekindle hope for the locals.
Clr Kapuya said once the deal was sealed, the Japanese company would start by the end of next year.
“People have been talking about the revival of Ziscosteel but that has not been happening and as council we now need to find ways of luring other investors. This we want them to assist to develop and employ Redcliff residents.
“At the moment we are in discussions with a Japanese company which wants to establish a yarn cotton manufacturing company worth about $25 million. Once the deal is sealed we are expecting them to start operating by the end of next year and employ about 3 000 of our residents,” he said.
Clr Kapuya said the Japanese company intends to use solar powered technology for its operations with the excess power generated being fed into the national grid.
He, however, conceded that the reincarnation of Ziscosteel now New ZimSteel, was taking too long and most people were becoming impatient.
Clr Kapuya said Ziscosteel used to be the backbone of the town before its demise in 2008.
“It is a welcome development to have new investors coming to Redcliff to start new businesses. We have been waiting for the revival of Zicosteel when it was announced that Government and Essar had finalised and sealed the deal. It has been five years now.
“So we want new people and investors bringing new business to Redcliff like the Japanese investors,” he said.
Clr Kapuya said the local authority will soon issue a letter of commitment for South African investors who want to set up a shopping mall along the Harare – Bulawayo highway at the new town site to commence construction work.
“There are South African investors who will be coming in January to discuss plans to build a mall along the highway and what they are waiting for is for us to issue them a letter of commitment so that they can access the project financing in South Africa,” he added.
Redcliff has a population of about 50 000.
Bongani Ndlovu