US$1BILLION SECURED FOR AFRICA’S LARGEST STEEL PLANT; PRESIDENT MNANGAGWA DELIVERS
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By Taonga Botolo
Africa’s largest steel plant has taken off the ground. The project is not being carried out in South Africa, Nigeria or Egypt, it is in Zimbabwe.
The project will have three different sites in three different provinces namely Mashonaland East, Midlands and Mashonland West.
Afrochine Smelting boss Benson Xu told one of the dailies that mining for raw materials of the steel plant will be done in Chivhu and Manhize areas while the plant will be established in Chirumanzu.
According to the report, the project intends to create a full fledged town with all necessary amenities in place for 15 000 residents.
This falls within part of President Mnangagwa’s vision of making Zimbabwe a middle income economy by 2030.
The project to be ready by end of 2022, will create between 15 000 to 20 000 direct and indirect jobs.
Meanwhile, funding for the first phase which is $1 billion has already been secured, according to the media sources.
Currently, preliminary infrastructure on the project site has gotten under way.
Zimbabwe is one of few countries on earth generously endowed with several steel alloying minerals which include chromite, cobalt, manganese, tantalite, nickel and tungsten.
Once completed in December 2022, the plant will see Zimbabwe rising to the top rank of Africa’s largest producer and exporter of steel.
Brick by brick, President Mnangagwa is rebuilding Zimbabwe.
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