https://en.sputniknews.africa/20240115/dinson-steelworks-plant-in-zimbabwe-to-start-working-in-april-state-media-says-1064622267.html
Dinson Steelworks Plant in Zimbabwe to Start Working in April, State Media Says
Dinson Steelworks Plant in Zimbabwe to Start Working in April, State Media Says
Sputnik Africa
According to the Zimbabwean state media, The Herald, a couple of years ago, the country's mining industry brought in only $2 billion annually. However, the... 15.01.2024, Sputnik Africa
2024-01-15T10:45+0100
2024-01-15T10:45+0100
2024-01-15T10:45+0100
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Dinson Iron and Steel Company (Disco) steelworks plant in Zimbabwe's village of Manhize to start working in April, all raw materials will be mined locally, the state media, The Herald, reported.Disco, the subsidiary of Chinese iron and steel giant Tsingshan Holdings, is expected to produce about five million tonnes of products per year in the final phase, providing Zimbabwe with a full range of steel products, the outlet noted.Disco is also expected to create more than 10,000 jobs in the fourth phase of production, the report revealed.Dinson Holding Zimbabwe chairman, Chen Changsong said that they feel privileged to invest in a nation where the government is welcoming and prioritizes business opportunities, the outlet said.Zimbabwe's Minister of Industry and Commerce, Sithembiso Nyoni, noted that the establishment of the plant is crucial not only for the country's industrial growth but for its entire iron and steel value chain, according to the report.The construction works of the plant started in June 2022, the media said.Zimbabwe's mining industry has seen active growth in recent years, exceeding its initial revenue target of $12 billion thanks to the commissioning of new mines and the revival of old ones, according to media reports.
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zimbabwe, industry, southern africa, export, economy, development
Dinson Steelworks Plant in Zimbabwe to Start Working in April, State Media Says
According to the Zimbabwean state media, The Herald, a couple of years ago, the country's mining industry brought in only $2 billion annually. However, the nation is now exceeding its initial goal of $12 billion by embracing the establishment of new mines and the revival of the old ones.
Dinson Iron and Steel Company (Disco) steelworks plant in Zimbabwe's
village of Manhize to start working in April, all raw materials will be mined locally, the state media, The Herald, reported.
"By the end of the first quarter we will be starting our first production which is pig iron and then in the second quarter in October we will start production of steel billets. We will then be commissioning the whole of phase one, where we will be producing steel bars. So, in terms of completion, we are almost there. We are 95% in terms of completion of the plant," Disco projects manager Wilfred Motsi was quoted by the media as saying.
Disco, the subsidiary of Chinese iron and steel giant Tsingshan Holdings, is expected to produce about five million tonnes of products per year in the final phase, providing
Zimbabwe with a full range of steel products, the outlet noted.
Disco is also expected to create more than 10,000 jobs in the fourth phase of production, the report revealed.
Dinson Holding Zimbabwe chairman, Chen Changsong said that they feel privileged to
invest in a nation where the government is welcoming and prioritizes business opportunities, the outlet said.
"The Government has a vision of open for business, and we are honored to be pioneers of that journey. [...] We are so glad and believe that through interaction and discussion, we have a lot of opportunity to grow," he highlighted.
Zimbabwe's Minister of Industry and Commerce, Sithembiso Nyoni, noted that the establishment of the plant is crucial not only for the country's
industrial growth but for its entire iron and steel value chain, according to the report.
"This state-of-the-art facility is not only capable of producing high-quality steel products, but it is also poised to have a profound impact on our economy. The establishment of the plant signifies our commitment to strengthening the iron and steel value chain within Zimbabwe," she said.
The construction works of the plant started in June 2022, the media said.
Zimbabwe's
mining industry has seen active growth in recent years, exceeding its initial revenue target of $12 billion thanks to the commissioning of new mines and the revival of old ones, according to media reports.
