Boustead Beef was supposed to do the following under the agreement it signed with the government:
- raise and invest a minimum of $130 million into CSC over five years, being for both capital expenditures and working capital for the business;
- pay off CSC financial debts totalling US$42 530 597;
- pay rentals of US$100 000 per annum during the first five years of the concession agreement;
- take over and run the management of the following CSC ranches for an initial period of 25 years: Maphaneni; Dubane; Umguza; Chivumbuni; Mushandike; Willsgrove; and Darwendale;
- take over and run the management of the following abattoirs for an initial period of 25 years: Bulawayo; Chinhoyi; Masvingo; Marondera; and Kadoma; and
- take over and manage for an initial period of 25 years, the Harare, Gweru and Mutare distribution centres and residential properties of CSC.
For background information on Boustead Beef and the CSC operation see:
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