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Dinson set to open Zimbabwe steelworks next month

by Staff reporter
03 Nov 2023 at 05:35hrs | Views
Dinson Iron and Steel Company (Disco) located near Mvuma in Manhize is set to be inaugurated next month, as announced by Minister of Veterans of the Liberation Struggle Affairs, Ambassador Christopher Mutsvangwa.

The construction of this steelworks, anticipated to become one of Africa's largest integrated steel plants, commenced last year with an initial completion target of August this year. However, this deadline has been extended to December due to delays caused by the abundant rainfall experienced in the country earlier this year.

Disco is one of the three local subsidiaries of China's largest stainless steel producer, Tsingshan Holdings Group Limited. Tsingshan Holdings also owns Dinson Colliery in Hwange, Matabeleland North, and a ferrochrome plant, Afrochine Smelting Limited, in Selous.

Minister Mutsvangwa made this announcement during the Samora Machel Memorial Lecture in Mozambique, emphasizing the economic transformation that Zimbabwe and Mozambique are undergoing.

Additionally, Disco has entered into a memorandum of understanding with the government to refurbish and construct a 1,000km long railway line. This railway line will facilitate the dedicated and efficient transportation of the company's products for both local and export-import routes through Mozambique.

Minister Mutsvangwa stated, "Zimbabwe is rapidly moving into new energy vehicles, paralleling countries like Saudi Arabia and Russia in energy and fossil fuels. The world's largest Chinese steel company is now operating in Zimbabwe, and steel production is scheduled to begin in December."

This investment marks a significant milestone in Zimbabwe's modernization and industrialization agenda, aligning with the National Development Strategy and Vision 2030. The world-class iron and steel plant will leverage a resource base estimated to last for a century and comprises a carbon and steel plant, an iron ore mine, and a ferrochrome plant. This development is expected to create over 10,000 employment opportunities across various value chains. Zimbabwe is positioning itself as one of the world's leading iron and steel producers, and the World Steel Association forecasts a significant rebound in demand for 2023 and 2024, with the manufacturing sector leading the recovery.

Zimbabwe's mining industry is poised to make a substantial contribution to the country's aspiration to become an upper middle-income economy by 2030. The mining sector's expansion, driven by lithium and battery minerals such as tantalum, graphite, nickel, manganese, and tin, will play a pivotal role.

Minister Mutsvangwa also highlighted the presence of six billionaires in Zimbabwe, driven by the exploitation of lithium. He concluded by affirming that Zimbabwe and Mozambique are on a new trajectory, becoming economic powerhouses in Southern Africa, aligning with the aspirations of the late President Samora Machel. President Machel was a Mozambican military commander and political leader who advocated a socialist ideology and served as Mozambique's first President from its independence in 1975 until his tragic death in a plane crash in 1986.



Source - The Herald