By Correspondent
Harare Quarry, a Council owned entity, requires a liquidity injection of US$3,7 million as it is operating below capacity.
Mayor Jacob Mafume says the financial support is needed for retooling and as working capital to improve operations.
“Harare Quarry Pvt Ltd has not been performing as expected.
“As such we have appointed an audit firm to undertake an assessment of the company and a resource valuation to enable informed decision-making.
“The assessment by the audit firm revealed that Harare Quarry is a good economic opportunity given its resource base, quantitative and qualitative aspects and location.
Mafume added that with proper alignment programme and financing, it could be viable.
“Harare Quarry can be viable and be able to produce the required raw materials for the roads programme.”
Government has previously ordered Harare to take direct control of its private companies.
It charged that they were not adding value to the local authority in their present state.
The private companies operating under this arrangement include Sunshine Holdings, City Parking and Harare Quarry.
