Zimbabwe Set To Become Africa’s Largest Steel Producer
Zimbabwe is set to become Africa’s largest steel producer and one of the biggest steel players in the world when the multi-billion steel plant being constructed in Manhize near Mvuma becomes operational.
The plant is estimated to cost US$1.5 billion upon completion of the first phase.
Africa’s largest integrated steel-manufacturing plant is being constructed by Dinson Iron and Steel Company, a subsidiary of the Chinese steel producer Tsingshan Holdings.
The steel plant has the potential to produce 1.2 million tons of iron and steel per annum when at full capacity. Said Chen Shang Song:
Our target is to commission the first phase in October 2023. We could produce 600 thousand tons of carbon steel per annum creating more than 500 direct jobs and bringing the opportunities downstream and upstream.
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Transforming Zimbabwe from a steel importer to an exporter, making forex and contributing to the 12 billion dollar mining industry by 2030.
Dinson Group has other investments in Zimbabwe which include coal-to-coke processing in the Hwange, which will feed into the steel project and limestone mining operations in Masvingo. Added Chen Shang Song:
In Zimbabwe, we are building the mining value addition park. Since 2012 we have successfully built the ferrochrome smelting plant in mash west, the coke plant in Matabeleland north and build the park in the Midlands.
So far, we have invested 500 million US dollars, our total investment is expected to exceed 3 billion US dollars.
Zimbabwe has been importing 90% of its iron and steel requirements worth over US$300 million annually.
Most of the steel comes from South Africa followed by China, Zambia and Seychelles.
Production at the Manhize steel plant is expected to start in August next year with the iron ore deposits at the site projected to last beyond 100 years. | SABC News