Chronicle Editor
THE pledge made by President Mnangagwa to the people of Zimbabwe that he will drive the country towards industrialisation to improve people’s livelihoods and ensure that the country attains an upper middle-class economy status by 2030 is fast becoming a reality.
President Mnangagwa has always reiterated that “all shoulders should be on the wheel” as he makes sure that his Government’s economic policies become a success. The success of the economic policies translates to a better livelihood for all Zimbabweans. With industrialisation already taking place across the country, with some rural centres now into value addition of different products, creating employment for locals, the completion of the US$1,5 billion Dinson Iron and Steel Company plant in the Midlands province is further testimony to a results-oriented approach by the President.
Upon completion, the plant will become the biggest steel producer in the continent and among the top steel companies in the world. At 95 percent completion, the plant at Manhize, Chirumhanzu District, in the Midlands province, is almost ready to commence production, just about two years after President Mnangagwa led its groundbreaking ceremony.
The project, which encompasses the establishment of a smart city to be called Manhize Town and a science university, will drive massive beneficiation and value addition of steel and accelerate economic growth through exports and huge job opportunities along the value chain.
Our sister paper, Chronicle reported yesterday that the company expects to start production by the end of April. On Friday, the Minister of Industry and Commerce, Dr Sithembiso Nyoni, led chief executive officers from mining companies, foundries, banks and the media to get the feel of implementation progress made on-site.
The company expects to produce pig iron by the end of April, followed by steel billets in May and steel bars in October. It is projected to produce 600 000 metric tonnes of products in the first phase rising to 1,2 million tonnes in the second phase then 3,2 million tonnes in the third phase and ultimately five million tonnes per year in the final phase, which would earn the country millions of dollars in foreign currency.
Other products on the pipeline include pipes, bolts and nuts, smaller slags, rolled tubes, fences, shafts, wires, and bars, among others. Preliminary projections indicate the company would likely scoop net revenues of up to US$10 million during the first phase and rise to US$4,25 billion under phase four of production.
In terms of employment, the company expects to directly employ 3 000 workers in the first phase with the figure expected to rise to over 10 000 in the fourth phase of production. In her remarks, Dr Nyoni said progress at Manhize represents a significant milestone for Zimbabwe’s industrial revolution and the entire iron and steel value chain, in particular.
Furthermore, there will be massive benefits to other industries that will benefit from the plant operations. Other sectors to benefit are housing, health, transport, retail, entertainment and tourism, among others.
Online Reporter