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Tinashe Makichi Business Reporter
The Zimbabwe Investment Authority (ZIA) will carry out another feasibility study on land earmarked for the construction of an industrial park 5km from the border of Zimbabwe and South Africa in Beitbridge. The investment authority has been looking for partnerships to develop the land but with the coming of special economic zones, new ideas have been mooted thereby rendering the first feasibility study outdated.
ZIA chief executive Mr Richard Mbaiwa yesterday said a lot of investors had expressed interest in the project but no concrete bids had been made so far.
“A new feasibility study should be undertaken as we are awaiting finalisation of the Special Economic Zones framework,” said Mr Mbaiwa.
“The development of the park is part of a broader exports development strategy borne out of the need to spearhead value added exports and creation of employment.”
The Beitbridge Industrial Park project was started in 1998 by the then EPZ Authority, which later merged with Zimbabwe Investment Authority to form ZIA.
Mr Mbaiwa said it is better to regard the land as a special economic zone considering that it will offer incentives for the developer and the people who are expected to set up projects at the site.
According to the scope of the project, the development of the park is to be done in four phases covering a total of 42 hectares.
First phase covering 10 hectares has been partly developed and some of the structures are being leased out to tenants.
ZIA, however, has been looking for investors to resuscitate development of the remainder of the project.
The authority envisages that when the SEZ implementation reaches conclusion, the winning bidder will provide a funding solution that will enable the project to move forward as a joint venture based on the public private partnership framework.
Mr Mbaiwa last year told The Herald Business that the bidder will mobilise funding to execute the project and procure the necessary tenancy to get the facility running.
He said ZIA will, however, maintain ownership and earn some income from the project.
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