South Koreans eye infrastructure deals in Zimbabwe

South Koreans eye infrastructure deals in Zimbabwe
DIDG executive chairman Donovan Chimhandamba

DIDG executive chairman Donovan Chimhandamba

A DELEGATION from South Korean firms, Dong Ah Construction Industrial Company, Korean Engineering and Construction Group (Kenca) and Trapeace Holdings is in the country to explore water, roads and energy projects worth over a billion dollars.
The South Korean firms’ foray into Zimbabwe is in partnership with the Diaspora Infrastructure Development Group (DIDG), a grouping of over 1 000 non-resident Zimbabwean professionals targeting infrastructure investments in the country.
DIDG has partnered Transnet in a joint venture that won the $400 million tender to recapitalise the National Railways of Zimbabwe.
The Seoul-headquartered Dong Ah Construction Industrial Company has undertaken major civil engineering projects in its native South Korea, Saudi Arabia, Libya and Dubai.
Its areas of focus include roads and bridges, harbours, tunnels and subways, water supply and drainage projects as well as architectural projects, such as general buildings and housing construction.
Dong Ah’s energy portfolio includes nuclear and thermal power plants.
DIDG executive chairman Donovan Chimhandamba told The Financial Gazette that the delegation seeks to explore opportunities in the water, roads and energy infrastructure space.
“As DIDG, we are following through on our strategy of converting our global partnerships and networks to focus on investing into specific infrastructure projects in Zimbabwe,” Chimhandamba said.
“Our partnership with the South Koreans was established quite a while ago, but now we are actively acting on our partnership agenda. There are more than 1 000 members in the DIDG’s Diaspora professional formation. You can imagine with such a global professional Diaspora network, the funding and skills resources we call pull into our infrastructure development agenda.”
He said the investors would also be looking at water treatment, distribution, metering, billing and collection on a concession basis for some Zimbabwean municipalities.
In energy, they would also consider exploiting the coal-bed methane in the western region of the country.

newsdesk@fingaz.co.zw

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  • Valentine Chinyadza

    Who are behind the Diaspora Infrastructure Development Group. Please tell us the top ten names leading this group

  • Blessed Jari

    The Diaspora Infrastructure Development Group was last year awarded the US$400 million National Railways of Zimbabwe recapitalisation tender, has come up with a global investment scheme to enable Zimbabweans living outside the country to invest in various critical infrastructure. What became of this?

  • Pacman

    The Diaspora Infrastructure Development Group’s executive chairperson Donovan Chimhandamba. We need to know more about this person.

    • Arab Attack

      Just know he is a thief and linked to G40. Have you ever heard of anything that they have done that is tangible, just too much noise and less action

      • Micheal Ndlamini

        Do u have evidence, don’s just try rubbish you Arab Attack idiot

  • Hilda Rusere

    Some time in May 2015, Zimbabwe’s capital Harare has turned to its South Korean twin sister of Cheonan for funds to help reduce its ballooning housing backlog blamed on a depressed economy. The two cities currently had a ‘working relationship’ although a formal twinning agreement was still to be signed then.

  • Kevin Mpofu

    They have a lot to do, especially our road. They are getting worse each day. Gvt need to step their game up on infrastrucuture

  • Dr Frank

    Our roads are and eye-sore. Does Joram Gumbo ever move around the country to see how bad this is. Hu minister we-zita

  • Takesure Giant

    The problem with Zimbabwean’s lately is you criticises too much, no wonder Trump says African’s are shitholes. Lets give these people a chance.

  • Lorraine Savanhu

    Hope it wll not just be talk and more talk like the G40 days with no action

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