News / Local
Zimbabwe poised to become major steel producer
11 Nov 2021 at 06:18hrs | Views
ZIMBABWE will soon become one of the biggest steel producing countries in the world after the establishment of the new world class iron and steel plant at Manhize in Mashonaland West province next year.
Zanu-PF Politburo member, Christopher Mutsvangwa, described the project under Tsingshan Group Holdings' subsidiary, Dinson Iron and Steel Company, as the Second Republic's huge milestone towards supporting the country's economic turnaround.
It is expected to become the largest steel plant in Southern Africa, with an annual turnover of US$1,5 billion from the processing plant and iron ore mine starting next year under a US$1 billion capital investment.
The project will have a capacity to produce 1,2 million tonnes a year, while between 4 000 and 5 000 people will benefit through employment across value chains.
Addressing members of the Zanu-PF Mashonaland West Provincial Coordinating Committee (PCC) at a meeting in Chinhoyi yesterday, Mutsvangwa said Zimbabwe was headed for major transformation following the setting up of the plant currently underway.
"By December, 2022, Zimbabwe will be producing steel at Manhize where the Midlands and Mashonaland West share a border," he said.
"As we are speaking, the plant and other infrastructure are being set up.
"More furnaces are being set up at the Afrochine smelting plant in Selous for ferrochrome production while enough coal in Hwange is now in place towards the production of steel at the new Manhize plant.
"These are huge steps towards the nation's development as steel is the bedrock for each country's expansion."
Construction of a dam along Munyati River has already started to take shape, while urban planning, logistical and other infrastructural development projects are underway.
The new town is in line with President Mnangagwa's flagship investment programmes under Vision 2030 and National Development Strategy 1 (NDS 1).
Mutsvangwa said when the Rhodesian regime was put under sanctions, it continued to prosper because of steel and agriculture production.
"When the West decided to weaken Zimbabwe through sanctions, they targeted Ziscosteel which was the country's largest steel production company," he said.
"President Mnangagwa has, however, brought back steel into the economic development equation of the nation.
"Thus, Zimbabwe will be amongst the top five steel producing nations in the world within the next five to seven years."
The party resolved to conduct elections this week in some of the districts that were marred by various glitches.
Zanu-PF Politburo member, Christopher Mutsvangwa, described the project under Tsingshan Group Holdings' subsidiary, Dinson Iron and Steel Company, as the Second Republic's huge milestone towards supporting the country's economic turnaround.
It is expected to become the largest steel plant in Southern Africa, with an annual turnover of US$1,5 billion from the processing plant and iron ore mine starting next year under a US$1 billion capital investment.
The project will have a capacity to produce 1,2 million tonnes a year, while between 4 000 and 5 000 people will benefit through employment across value chains.
Addressing members of the Zanu-PF Mashonaland West Provincial Coordinating Committee (PCC) at a meeting in Chinhoyi yesterday, Mutsvangwa said Zimbabwe was headed for major transformation following the setting up of the plant currently underway.
"By December, 2022, Zimbabwe will be producing steel at Manhize where the Midlands and Mashonaland West share a border," he said.
"As we are speaking, the plant and other infrastructure are being set up.
"More furnaces are being set up at the Afrochine smelting plant in Selous for ferrochrome production while enough coal in Hwange is now in place towards the production of steel at the new Manhize plant.
Construction of a dam along Munyati River has already started to take shape, while urban planning, logistical and other infrastructural development projects are underway.
The new town is in line with President Mnangagwa's flagship investment programmes under Vision 2030 and National Development Strategy 1 (NDS 1).
Mutsvangwa said when the Rhodesian regime was put under sanctions, it continued to prosper because of steel and agriculture production.
"When the West decided to weaken Zimbabwe through sanctions, they targeted Ziscosteel which was the country's largest steel production company," he said.
"President Mnangagwa has, however, brought back steel into the economic development equation of the nation.
"Thus, Zimbabwe will be amongst the top five steel producing nations in the world within the next five to seven years."
The party resolved to conduct elections this week in some of the districts that were marred by various glitches.
Source - The Herald
