Government owned meat processing company, Cold Storage Company (CSC) is back on its feet following the injection of US$400 million into the company by foreign investors.
CSC had remained non operational for close to two decades now and true to the mantra that Zimbabwe is open for business, the company got a shot in arm when a consortium of foreign investors injected US$400 million.
This has seen the company being able to pay its workers part of their outstanding salaries and enable retooling of its machinery.
CSC Communications Officer, Mr Isaiah Machingura said the resuscitation process is at an advanced stage and the process of restocking its farms is ongoing.
“We have already started restocking CSC farms and most of the cattle will come from local farms. We want to engage with local farmers and at each CSC farm is expected to have 5000 cattle. The resuscitation is at an advance stage and all l can say is that CSC is already almost functioning,” he said.
The company’s revival is also expected to ignite production in downstream industries.
“We know that there are companies which are almost at standstill following the malfunctioning of CSC. Companies which make soap and leather will benefit from CSC the moment it starts operating,” Mr Machingura added.
The firm has been heavily distressed over the past years owing to a number of challenges, chief among them the imposition of illegal sanctions on the parastatal by western nations.