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Richard Muponde
Dinson Iron and Steel Company’s US$1,5 billion plant in Manhize, Mvuma, will anchor Zimbabwe’s industrialisation drive and have a profound impact on the country’s economic development trajectory.
This was said by Industry and Commerce Minister Dr Sithembiso Nyoni while addressing a delegation of business leaders who were touring the plant on Friday.
Dr Nyoni said the Manhize iron and steel plant represents a significant milestone for Zimbabwe’s industrial development.
“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,” she said.
“The establishment of the Manhize steel plant signifies our commitment to strengthening the iron and steel value chain within Zimbabwe.
“This plant will play a pivotal role in enhancing the production of iron ore, its processing into steel and the subsequent manufacturing of various steel products.
“By integrating these stages of the value chain, we are fostering a more self-reliant and sustainable steel industry.”
She said growth and development of the iron and steel industry has a multiplier effect on other sectors, such as construction, infrastructure development and manufacturing.
The availability of high-quality steel products locally, Minister Nyoni said, will reduce the country’s reliance on imports, helping save foreign currency and boost the country’s balance of trade.
She said the project will create thousands of direct and indirect jobs.
“As the plant expands and reaches its full production capacity, it will create a significant number of direct and indirect jobs across the entire value chain.”
“This not only improves the livelihoods of individuals and families but also contributes to poverty reduction and economic empowerment.”
Speaking at the same event, Dinson Iron and Steel Company chairperson Mr Benson Disco said the steel plant was a game changer for Zimbabwe’s automotive and construction industries.
“We are committed to grow this plant to a regional steel hub and it can grow to be the largest steel plant in Africa,” he said.
“Zimbabwe is blessed because it has the best coking material for steel in one place, it’s the best in the region.”
Meanwhile, Minister Nyoni said Government was finalising the crafting of the Zimbabwe National Industrial Development Policy, which seeks to enhance the competitiveness of local industries.
She said the policy is geared to provide solutions for resuscitating ailing industries, through a range of incentives that promote competitiveness and sustainability.
“This policy is anchored on Vision 2030 and the National Development Strategy (NDS 1),” she said.
“It focuses on implementing policies that foster high, inclusive, broad-based, and sustainable economic growth, as well as socio-economic transformation and development.”
Her ministry, she said, was primed to promote the development of vibrant, sustainable and globally competitive industrial and commercial enterprises through the provision of enabling policies and regulatory frameworks.
“Government is enhancing engagements with the private sector to create an environment that nurtures innovation, fosters growth and facilitates the success of local businesses,” she said.
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Online Reporter