9 April 2019

Zimbabwe: ZCDC Granted Permission to Establish Special Economic Zone

The Zimbabwe Consolidated Diamond Company (ZCDC) has been granted permission by government to spearhead the establishment of a Special Economic Zone (SEZs) in Mutare in a development that will see the mining giant undertaking major construction projects to expand its operations.

ZCDC confirmed the latest development, which was issued under General Notice 673 of 2019.

"ZCDC has been mandated by the Government of Zimbabwe to spearhead the establishment of a Special Economic Zone in Mutare for the diamond gem stone and jewellery industry," read the notice.

As a result, the mining entity will carry out the construction of a Gemmology Centre which will become a training school specialising in diamond cutting and polishing services, jewellery and black smith manufacturing houses as well as other administrative support services.

The contractor to be engaged will undertake the construction of the project under a build operate and transfer contract.

The company must be registered in the construction industry and must present a profile of previous work of a similar nature of high value modern commercial models and also have a minimum 10 years' experience in BOT for projects of a similar nature.

ZCDC is a wholly government owned company established in 2015 under the Companies Act and mandated to explore, mine, sell and process diamonds.

It recently acquired mining claims in Chimanimani where exploration works are currently underway.

The SEZs concept has been gathering momentum in the country and SEZs are being established to restore the economy's capacity to produce goods and services competitively, create economies of scale good enough for the locator of the proposed SEZs to be internationally competitive and to ensure inclusive growth emanating from the spread of growth nodes and diversified provincial offerings.

Companies that operate in SEZ normally enjoy lowered tariffs in terms of taxation, electricity and water bills among other lowered trade barriers with a view to position the entities to be highly productive and competent.

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