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AN undeniable fact, even to the country’s detractors, is that the Second Republic led by President Mnangagwa has made Zimbabwe a safe and conducive investment destination as seen by a number of high-impact projects across sectors.
Last Friday, President Mnangagwa toured the US$1,5 billion Dinson Iron and Steel investment project at Manhize in the Midlands Province, a massive investment project by a Chinese global investor, which is nearing completion.
Touted to be among Africa’s biggest integrated steelworks, the project is being built by China’s global stainless steel producer, Tsingshan Holdings Group Limited through its subsidiary — Dinson Iron and Steel Company (Disco).
The group also owns Dinson Colliery in Hwange in Matabeleland North and a ferrochrome plant, Afrochine Smelting Limited, in Selous.
With a projected capacity to produce 600 000 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, the Manhize project is expected to earn the country millions of dollars in foreign currency through exports.
The successful implementation of the iron and steel investment is a big win for the country’s National Development Strategy (NDS1) and the ultimate Vision 2030, as it positions Zimbabwe among the ranks of global steel manufacturing powerhouses.
The mega-investment project encompasses the establishment of a Smart City to be called Manhize Town and also a Science University.
It paves the way for the beneficiation and value addition of steel production, which will accelerate and drive the province’s economy high up the value chain with massive spin-offs for the entire country and the region.
Other products that the company will eventually produce include pipes, bolts and nuts, smaller slags, rolled tubes, fences, shafts, wires and bars, among others.
Speaking to journalists after Friday’s tour, President Mnangagwa said for any country to have a modern economy, it will require industrialisation through enterprises such as the Disco Manhize steel plant.
He said the speedy implementation of the project at Manhize reflects the growing confidence that investors have in Zimbabwe in response to the improved ease of doing business ushered in by the Second Republic.
“This investment and the speed at which works are ongoing is a testimony of the confidence the investors of this project have in the conducive business environment and policies of the Second Republic,” said President Mnangagwa.
Online Reporter