Zimbabwe Economic News: RTG to Run Beitbridge Hotel + ZPC Secures $30 mln loan + Mineral Earnings to Reach $24 Bln

RTG to Run Beitbridge Hotel

NSSA has awarded a management contract of the recently completed Beitbridge hotel to RTG. The authority also extended a $4.4 mln loan to equip
Beitbridge Hotel. NSSA is the majority shareholder in RTG. NSSA general manager James Matiza said they have agreed that RTG will be given a loan by NSSA to equip the hotel and NSSA will lease the hotel to them as well. The money will be paid over 3 years at an interest rate of 10% per annum - NewsDay, Friday July 12

ZPC Secures $30 Mln Loan

The Export Import Bank of India has extended a $28.6 mln loan facility to rehabilitate Deka pipeline as preparations for the expansion of Hwange Thermal Power Station begin, ZPC chairperson Victor Gapare said in a statement. The Zimbabwe Power Company yesterday said Deka project in Hwange was expected to commence in October, and completed in 2015. Gapare said the funds were also expected to unlock funding for Gairezi power project and repowering of Bulawayo Power Station - NewsDay, Friday July 12

Mineral Earnings to Reach $24 Bln

Mineral earnings from Zimbabwe are projected to rise 12-fold to $24 bln by 2018, from $2.6 bln last year, a study of the industry has shown, pointing out that fiscal revenue would equally get a significant boost from increased mining revenue. But this would depend on activation of several pipeline projects and creation of investor friendly policies, according to the Zimbabwe Economic Analysis and Research Unit in its report , Mining Policy Study unveiled last week - Fingaz, Thursday July 11