The Infrastructure Development Bank of Zimbabwe (IDBZ) has contracted a Chinese firm, Hualong Construction Private Limited, to construct National University of Science and Technology (NUST)'s students and employees' accommodation facilities. The bank is working on a multi-million dollar project to develop students and staff accommodation projects at various state universities that is expected to end accommodation woes being experienced by students.
Hualong has already started the initial stages for the development of the NUST project with civil works expected to take 12 months.
"We are pleased to advise that the bank has now concluded an agreement with Hualong Construction Private Limited (the contractor) for the construction of Students Halls of Residents for the National University of Science and Technology.
"The contractor is in the process of mobilising for commencement of civil works at the identified project site, with the project expected to be complete within a period of twelve months from commencement date," said IDBZ.
In their financial results for the half year to June 2017, the bank indicated it was now mobilising at least $34 million for the first phase of the construction of student's halls of residents at state universities across the country, a project that will ease accommodation shortages at the learning institutions.
The project is expected to cost $75 million and will be implemented in phases.
Chinhoyi University of Technology, Great Zimbabwe University, Bindura University of Science Education are some of the universities expected to benefit from the projects, with progress already made at NUST.
Student accommodation at tertiary institutions has been a challenge due to an acute increase in student population.
The IDBZ projects at various state universities are, however, expected to ease student accommodation at state universities by an estimated 22 percent.