of state steel-maker ZISCO, a minister said on Wednesday, after rejecting
earlier offers from South Africa's ArcelorMittal (ACLJ.J) and Jindal Steel
and Power (JNSP.BO) of India.
A power-sharing government formed by bitter rivals, President Robert Mugabe
and Prime Minister Morgan Tsvangirai last year has sought to attract foreign
investors in a bid to raise at least $10 billion needed to fix the economy.
The government has identified cash-starved ZISCO, once a major foreign
currency earner, with capacity to produce 1 million tonnes of steel per
year, as the first state-owned enterprise to be disposed of in a bid to
revive its operations.
"The ministry wishes to advise interested parties that bids for a strategic
partner for ZISCO are now open," Industry and Commerce Minister Welshman
Ncube said in a statement.
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