Zimbabwe signs massive US$1.9bn housing plan
The Ministry of Local Government, Public Works & National Housing has awarded a housing project to China-Africa Construction Company, a subsidiary of China Civil Engineering Construction Corporation.
The parties to the Magamba 2015 housing project contract, according to China-Africa Construction, will enter into phased construction contracts separately according to progress of the project financing.
The Magamba 2015 housing project, the largest residential project ever in the country, is expected to help the country ease a 1.2-million housing backlog.
China’s Railways Construction Corporation, a state-owned railway co-operation, has now won two major contracts worth US$5.5billion in both Nigeria and Zimbabwe.
The company’s Nigerian subsidiary, China Africa Construction limited, won a contract to construct a railway line in Nigeria. The new project will see Nigeria construct its first intercity railway line expected to cost about US$3.506 billion.
Currently CRCC have ongoing railway construction projects in Kenya and East Africa as a whole, as well as other ongoing projects in South Africa.