Zim-China Sign Deal To Establish US$1 Billion Steel Plant

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Zimbabwe and China on Monday signed a deal for the establishment of a  US$1 billion steel plant. The plant has a potential to produce 2 million tonnes of steel per year and to produce 3000 jobs.  The project is being spearheaded by a subsidiary of Chinese firm Tsingshan in Zimbabwe, Afrochine. Said Permanent Secretary in the Ministry of Mines and Mining Development Munesu Munodawafa,

We anticipate that when it’s fully operational, this project will create up to 3,000 permanent jobs and produce up to 2 million tonnes of steel per year over the life of the project which we have put at about 25 years…Tsingshan is one of the top five producers of stainless steel in the world. We believe we have chosen the best and we believe we will get the best out of them.

More: New Zimbabwe

 

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