Online Reporter
Bulawayo Bureau
THE Dinson Iron and Steel Company (Disco) in Manhize, Midlands Province, generated nearly US$100 million in steel sales during the first half of this year, significantly reducing Zimbabwe’s reliance on imports and boosting economic activity across the value chain.
The US$1,5 billion project is already producing 600 000 tonnes of steel products annually, including pig iron, billets and rebars for local, regional and international markets.
Disco chief executive, Mr Benson Xu, said the company’s focus was on producing high-quality steel to meet demand at home and abroad.
He was briefing Information, Publicity and Broadcasting Services Minister Dr Jenfan Muswere, who toured the plant last week with journalists.
“We had a ground-breaking ceremony in October 2022, led by His Excellency President Mnangagwa.
“Our team has been working tirelessly and in June 2024, we achieved our first production of steel billets.
“In the first half of the year, we made US$100 million in sales, saving the country revenue on steel imports.”
The locally-produced steel is already being used in major infrastructure projects, such as the Lake Gwayi-Shangani Dam in Matabeleland North.
Analysts say the Manhize plant positions Zimbabwe as a key player in the global steel industry, while also supporting Vision 2030 goals on industrialisation, job creation and value addition.
Mr Xu commended the Government and President Mnangagwa for creating a supportive business environment.
“We are planning to diversify and work on import substitution, collaborating with other industrialists in the zone,” said Mr Xu. “We have created a platform for other sectors to come and work with us, and we believe that by working together, we can all contribute to the growth of the economy. We need more cooperation and transparency.”
He added: “We have delivered the project with the support of the Government and we commend President Mnangagwa and his administration for giving us the opportunity to invest in the country.
“We are open to the public and strive for transparency. Zimbabwe and China are one family and we are grateful for the support.
“We are working in line with Vision 2030 and the vision is achievable when we work together to realise industrialisation by 2030.”
The Manhize plant is operated by Tsingshan Group of China, which also owns Afrochine Smelting in Selous and Dinson Colliery in Hwange.
The projects are interlinked, as ferrochrome and coke from the other operations are key inputs for steel production.
