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George Maponga in Masvingo
Masvingo’s sole heavy industry, Sponge Iron Mining and Beneficiation Industries(SIMBI) will from next year start producing 60 000 tonnes of steel annually in a major boon for the local economy as Government eyes to meet Vision 2030 targets.
The Steelmakers-owned plant in the Masvingo industrial area has embarked on a multi-million dollar expansion drive to ramp up steel output from the current 36 000 tonnes annually to 60 000 by mid-next year.
The expansion drive will also create hundreds of additional jobs at the Masvingo plant that currently produces an intermediary product-Sponge Iron-which is shipped to Redcliff to produce steel.
Steelmakers Head of Finance and Company Secretary Mr Luke Karovangoma today disclosed plans to expand SIMBI and earn more forex by producing steel.
He was speaking at the firm’s premises during a familiarisation tour of the plant by the Deputy Minister of Industry and Commerce Raji Modi.
Deputy Minister Modi was accompanied by Masvingo Provincial Affairs and Devolution Minister Ezra Chadzamira.
The deputy minister said Government will assist in the protection of the SIMBI investment by coming up with interventions that protect local industries.
Minister Chadzamira noted that SIMBI’s planned expansion will be a game-changer for Masvingo’s quest to grow its Gross Domestic Product in line with Vision 2030.
He added that Government will continue attending to problems faced by investors such as SIMBI that create jobs and stimulate the economy.
SIMBI resumed operations this year having closed shop mid-last year under the weight of choking power cuts and recurrent water shortages.
Just like last year, the firm is bemoaning power cuts for making the operating environment hostile by spawning inefficiency.
SIMBI also owns a coal and iron ore mine in Masvingo.
Online Reporter