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Zimbabwean company signs a $1.8 billion mega solar projects deal

by Staff reporter
04 Dec 2018 at 07:41hrs | Views
Craft Properties (Pvt) Ltd a subsidiary of Craft Properties Holdings and an elite member of the World Confederation of Businesses have signed a mega solar projects deal worth 1.8 billion United States Dollars in Austin Texas United States of America, Zim Techreview reported.

Speaking from Austin Texas the Founder and Chief Executive Officer of Craft Properties (Pvt) Ltd Mr Kudakwashe Taruberekera said, "We are pleased that we are here today for the signing ceremony of the first Memorandum of Understanding between Labacorp Power Company and Craft Properties (Pvt) Ltd Zimbabwe for proposed mega solar projects to be implemented in Zimbabwe. This day is a very special day for our organization and Zimbabwe at large, as it marks the beginning of a journey that is very crucial in our country of alleviating the shortage of electricity in Zimbabwe".

"Electricity use and access are strongly correlated with economic development. There is evidence that reliability of electricity supply is important for any nation's economic development and prosperity and Zimbabwe is no exception. Zimbabwe is a developing country and as such heavily relies on industries, agriculture, mining, manufacturing etc and for these sectors to function.

The provision of reliable electricity supply is fundamental. This is the reason why when we informed our government of this proposed Mega solar projects deal that will be born after the signing of the MOU today 27 November 2018, our government was very positive and approved the implementation of the project without hesitation. The government of Zimbabwe have pledged to give us the fully support necessary for the proposed solar project to succeed" said Mr. Taruberekera.

The proposed mega solar projects will have a capacity to produce a minimum of 900MW a day that will be fed into the national electricity grid. This will go a long way in supplementing the national electricity.

Mr. Taruberekera emphasised that this deal besides supplementing the country's electricity needs will bring the much needed foreign currency into the country and it will create employment as it is anticipated to employ more than 4000 people.

Mr Taruberekera said "We are currently here in Austin Texas where we have signed an MOU with our business partner and will have a series of meetings that I believe will culminate in the commencement of the implementation of the proposed mega solar projects early 2019 in Zimbabwe".

Mr. Taruberekera went further to highlight that the company has also been nominated to attend the business meeting to be held in Las Vegas, United States of America on the 10th of December 2018. The organization being an elite member of the World Confederation of Businesses has also been invited to be part of The International Socrates Award Ceremony and Oxford Summit of Leaders to be held on the 18th December 2018 in Oxford, United Kingdom. Craft Properties (Pvt) Ltd has also been chosen as the high profile representative of regional business elite on behalf of Summit of Leaders organising committee.

The organization have also been incorporated into the special panel for regional business leaders' One Step ahead business.

Founder and Chief Executive Officer Mr Kudakwashe Taruberekera of Craft Properties ( Pvt) Ltd, Zimbabwe, will also be one of the speakers at the Oxford session in Oxford, United Kingdom.

Mr. K. Taruberekera will be representing the whole of our beloved country Zimbabwe at the Oxford Summit of Leaders. The company was also nominated for prestigious international prize for professional achievements in commercial activities- The Excellence in Quality Award. Mr. Taruberekera said that his organization will take the opportunity to market to international investors vast business opportunities in Zimbabwe during all the business forums. In recognition of the professional and quality execution of work, Craft Properties Pvt Ltd was conferred upon the title of Elite Member of the World Confederation of Businesses with all its privileges and obligations.

Craft Properties Pvt Ltd is now allowed to use the World Confederation of Businesses' seal. Mr Taruberekera said being incorporated into this elite World Confederation of Businesses comes with a lot of privileges including attending all the business meetings, seminars and summits across the World.

Mr. Taruberekera is grateful to the government of Zimbabwe who have supported the organization immensely prior to the signing of the mega solar project MOU in Austin Texas United States of America and pray that the same support will be rendered to make another partnership deal to seal through with a Chinese company. The reputable Chinese company intends to enter into a collaborative partnership with Craft Properties (Pvt) Ltd to invest in the country in the following investments:

1. Real Estate Business: Apartment/building, Hotels with modern facilities.

2. Cement Plant/Industry (Manufacturing and supply)

3. Fuel/gas Stations in different cities, regions/locality, Biofuels, etc

4. Energy and lighting Solutions, Mining Corporation, Construction

5. Highly skilled services in Oil logging (Upstream and downstream operations, Exploration and discovery)

6. Food and Beverage business.

7. Agriculture

8. Transportation

"Craft Properties (Pvt) Ltd will be travelling to China soon to sign business deals for investment in various sectors of our economy in support of the government's initiative of attracting foreign direct investment into the country" said Mr. Taruberekera.

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