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*Chinese Investor Pulls Out Of US$1 Billion ZISCO Deal* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?ht A Chinese company, R and F, has informed the government that it was pulling out of a deal to acquire a stake in the Zimbabwe Iron and Steel Company (ZISCO). The Herald was told by its sources that the government wanted to renegotiate the deal, agreed on under the previous administration. The publication quotes its source as saying: ---------- Latest itel S24 available on Pindula: 128GB storage $119 USD WhatsApp +263783450793 ---------- > R and F wrote to the Government advising that it was no longer interested. The parties could not agree after the new dispensation ordered the deal to be re-looked into. > There are several issues the Government was not happy with. It is not like the Government wanted to side line the investor, but wanted a win-win situation. Under the deal, R and F would have acquired ZISCO’s majority shareholding, thus paving the way for the resuscitation of the iron and steel plant at a cost of US$1 billion. Reports suggest that there were a number of unfavourable terms in the deal, so much that the deal was literally as good as mortgaging the country to the Chinese company. *More: The Herald* itel A50 now available on Pindula at $84 64GB storage, 2GB RAM. _ideal for light usage_ _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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