Updated: Chinese firm to invest $1 billion to revive Zisco Steel

Chinese firm R&F will invest $1 billion to revive the Zimbabwe Iron and Steel (Ziscosteel). 

Industry Minister Mike Bimha said that mining will commence within 18 months once negotiations have been completed. Said Bimha:

We are looking at an initial injection of over $1 billion and it will probably come to $2 billion when we proceed but it’s not a small project, it’s a huge project and a lot of work to be done.

Yesterday, R and F president Mr Jang Li paid a courtesy call on President Robert Mugabe at State House.

More: Source, Herald

Quick NetOne, Telecel, Africom, And Econet Airtime Recharge

If anything goes wrong, click here to enter your query.

ZimbabweMike BimhaRobert Mugabe

The Republic of Zimbabwe is a country located in the Southern Africa region. Its capital city is Harare and the country has 10 provinces. Zimbabwe is 390,580 sq km and is bordered on all sides by other countries (Zambia in the north, South Africa in... Read More About Zimbabwe

Mike Bimha is a Zimbabwean politician. He is the former Minister of Industry, Commerce and Enterprise Development; and Member of Parliament for Chikomba West. Read More About Mike Bimha

Robert Mugabe was a politician and the former President of Zimbabwe. He was the President of the Republic of Zimbabwe from 1987 to November 2017. Prior to this, he was the Prime Minister of Zimbabwe since the attainment of independence in 1980. Mugabe resigned from... Read More About Robert Mugabe

News On WhatsApp

Tap to join WhatsApp Group(no discussions)

If you find the group full, please notify us on +263 777 784 119 or +263 732 464 000.


Back to top

Write a Comment

Your email address will not be published.