ZIA seeks partners for Beitbridge project

Published: 28 January 2014

THE Zimbabwe Investment Authority (ZIA) is seeking partners to complete the development of its Beitbridge Industrial Park situated about five kilometres from Zimbabwe's border with South Africa.

The Beitbridge Industrial Park project was started in 1998 under the then Export Processing Zones Authority, which was merged with the Zimbabwe Investment Centre, to form ZIA.

In an interview with The Herald Business this week, ZIA chief executive Mr Richard Mbaiwa said the development of the park was part of a broader export development strategy that was also expected to create employment.

Mr Mbaiwa said ZIA would put to tender offers for interested partners and the winner would provide funding for the project under a public private partnership.

"The authority wishes to resuscitate development of the remainder of the project and we are now in the process of requesting for proposals or expressions of interest from potential developers," Mr Mbaiwa said.

He said development of the park was to be done in four phases covering a total of 42 hectares.

The first phase covering 10 hectares has been partly developed and some of the factory shells are being leased out. Phase one is approximately 60 percent complete and the development of the remaining three phases would commence after the completion of phase one.

"ZIA desires to resuscitate the project. Currently, we are not able to raise funding for execution hence we are inviting other players to express their interest in partnering ZIA to have the Industrial Park operational," said Mr Mbaiwa.

He said the winning bidder would mobilise funding to execute the project and get the facility running. However, he said that ZIA will retain control and earn some income from the project.

"Plans have been developed and approved for current structures. The Zimbabwe Investment Authority is, however, willing to consider (other designs for) alternative usage of the property," Mr Mbaiwa said.

"For now we have not yet mobilised any funds but we hope to reach a deal during the current financial year," he said. ZIA is a statutory body mandated to promote and facilitate both foreign direct and domestic investment.

It was established by the ZIA Act Chapter 14:30 of 2006 pursuant to the objective of promoting and facilitating investment. ZIA started developing the Beitbridge Industrial Park in 1998.

The initiative is meant promote exports mainly from the manufacturing sector, previously targeted under the exports processing zones concept.
- Herald