adminIndian company in 2011.
Despite Government and the Indian company signing a US$750 million agreement for the takeover of the company, disagreements over issues of control of iron ore reserves have hampered implementation of the deal.
Permanent Secretary in the Ministry of Industry and Commerce, Mrs Abigail Shonhiwa told the Portfolio Committee on Industry and Commerce of the delegation’s visit today adding Essar resident director-Middle East and Africa, Firdhose Coovodia, was already in the country
“As we speak today we are expecting the initial team to be on the ground tomorrow. In our discussions we said that operations have to start on the ground,” she said.
“This is the team coming from our partners who were previously at Zisco. We had hoped that these people get on the ground earlier but I got confirmation, last week, that they would be here and I also got another confirmation yesterday (Monday). They will be here to work with old Zisco management to get things going.”
The suspension of operations at New Zimbabwe Steel has resulted in untold suffering to its 3 000 employees and their dependants.
The employees were last paid in June last year.
Mrs Shonhiwa also told the committee that the Office of the President and Cabinet was now coordinating negotiations for the implementation of the deal.
Online Reporter