Zimbabwe: SZCC request title deeds from Gov

Zimbabwe: SZCC request title deeds from Gov
14 March 2017

Sino Zimbabwe Cement Company (SZCC) has requested the title deeds for Indiva Farm, where the company is located, be transferred to them by the Government. Located 33km east of Gweru, Indiva Farm is regarded as State land and the absence of title deeds held by SZCC has resulted in the company failing to access lines of credit due to lack of collateral.

Wang Yong, SZCC managing director, said that the company intended to set up an industrial park and wanted to attract more investors. However construction of the plant has been delayed by funding challenges. Principal shareholders Sinoma, CBMC and ICD failed to raise the initial US$20m needed for the first phase of the project, which should have begun in 2015. However, a Chinese investor has joined the project and construction is set to begin in the 2Q17.

Published under Cement News

Tagged Under: Zimbabwe SZCC Sino Zimbabwe