Zimbabwe:
Harare Seals 136m Dollar Deal
Zimbabwe’s Harare City Council has signed a 136 million Dollars
agreement with a Qatar-based company to establish hotels and
casino businesses.
Under the joint venture with Vanessia General Trading of Qatar,
the two partners will build a hotel at the corner of Airport
Road and Harare Drive, as well as a shopping centre in
Borrowdale West Extension.
Both projects, expected be completed within the next five years
would also be undertaken as a build, operate and transfer model.
Town clerk, Dr Tendai Mahachi said the joint venture company
would be incorporated and registered in Zimbabwe in accordance
with Zimbabwean laws.
More
Initiatives
In a related development, the Council also intends to engage an
indigenous firm, Dairibord Zimbabwe Limited, to establish a
joint dairy farming venture to generate more money and avoid
reliance on supplementary charges and rates.
According to Dr Mahachi, these proactive measures were taken as
part of efforts to revive the five unproductive government owned
farms, which had been idling for years.
AA/QASIM/YINKA
