Zimborders Consortium signs $240 million deal to upgrade border post
The Zimborders Consortium has signed a concession agreement for the mega project to upgrade the Beitbridge border post.
The expansion project, which is valued at U$240 million, will include a major upgrade of roads to and from the border post, as well as all supporting infrastructure. In addition non-core works to improve the town’s critical infrastructure will also be included, such as sewer ponds and storage dumps.
The Zimborders Consortium is made up of a group of individuals and investors including Zimbabwean, South African and international entrepreneurs and financial institutions that will provide the necessary foreign direct investment and financial backing to deliver the project.
Once completed, the border post will be run as a public-private partnership between the Government of Zimbabwe and the Zimborders Consortium, according to a long-term concession period.
Commenting on the announcement Glynn Cohen, Executive Chairman of The Zimborders Consortium says the awarding of the project to The Zimborders Consortium is a fantastic development for regional trade that will greatly improve efficiencies and speed of movement across one of the most active border posts in Africa.
“We are looking forward to playing our part in supporting regional economic growth which is so needed by enabling the easier flow of people and goods, be it for tourism, private or business purposes,”he notes.
Francois Diedrechsen, Chief Executive Officer of the Zimborders Consortium adds that they are proud to have been awarded the project following a tendering process that was transparent and fair, in line with the anti-corruption and pro-business approach brought about by the change in the country’s leadership.
“Our consortium has brought together the ideal team of people with the necessary skills to ensure that this project meets the vision and ambitions of the Zimbabwean government for Beitbridge and regional trade,” he explains.
Cohen and Diedrechsen are the founders of La Frontiere, a company that provides a one stop shop border development and modernisation product.
The project is expected to commence during July 2018 following the completion of the necessary financial and regulatory processes.