Mauritian firm 'frontrunner' for Zisco

The fate of Essar Energy Holdings' bid is to be decided by the three principals in Zimbabwe's inclusive government: President Robert Mugabe, Prime Minister Morgan Tsvangirai and Deputy Prime Minister Professor Arthur Mutambara.

Government intends to sell about 60 percent of the shareholding in Zisco in an attempt to secure a cash injection that will lead to the revival of the troubled steelmaking giant.At least four investors were in the running for the coveted stake, including Jindhal Steel & Power, Essar Energy Holdings, Sino-Zimbabwe and Sovereign Capital, a consortium of local and South African investors.