The Kunzvi Project reached financial closure, with Sino Hydro and China Communications Construction Company (CCCC) committing to provide resources for a dam and water treatment plant, and to rollout installation of smart prepaid water meters.
Other projects that will get immediate funding totalling about US$1 billion include Robert Mugabe International Airport expansion, a new Parliament Building, NetOne’s expansion, refurbishment of Morton Jeffrey Water Treatment Plant, and construction of a pharmaceutical factory among others.
Zimbabwe and China also signed a US$1 billion tourism memorandum of understanding.
President Xi Jinping’s government extended a special RMB1 billion (close to US$160 million) facility for Zimbabwe to draw down over three years, and US$20 million to assist President Mnangagwa’s administration.
Chinese investors offered to fund construction of roads and railways, while one wants to build a multi-million dollar five-star hotel in Victoria Falls.
Officials from Oriental State Chinese agreed to set up industrial parks in special economic zones.