Zim secures US$227m irrigation deals

07 Jul, 2024 - 00:07 0 Views
Zim secures US$227m irrigation deals

Theseus Shambare

ZIMBABWE secured over US$227 million in two investment deals for irrigation projects at the Zimbabwe Irrigation Investment Conference in Harare on Friday.

The first agreement, worth $172 million, was signed between the Government and Valley Irrigation for the supply of centre pivot irrigation systems to cover 23 000 hectares (ha).

In the second agreement, the Government signed a €51 million (over US$55 million) deal with Pedistock Munda Wedu, a Spanish company, to develop 12 725ha.

Addressing the conference, Finance, Economic Development and Investment Promotion Minister Professor Mthuli Ncube reaffirmed the Government’s commitment to attracting domestic and foreign investment to drive the country’s economic transformation.

“The scale of investment required to deliver on Vision 2030 cannot be funded by the Government alone through its National Budget. It is in this regard that the Government is facilitating such collaborations with the private sector for the attainment of the necessary economic development,” he said.

He highlighted various tax incentives and policy measures the Government has put in place to support investment in the irrigation sub-sector, including giving national project status for the construction of major dams and tax exemptions on agricultural inputs and equipment.

Running under the theme “Public-Private Partnership for Sustainable and Structured Irrigation Financing to Deliver Food Security, Everywhere, Everyday”, the investment conference provided a platform for stakeholders to discuss strategies for enhancing irrigation development in Zimbabwe.

Share This: