China's Tsingshan mulls $1bn steel plant in Zimbabwe
China's unlisted Tsingshan Holding Group on Monday signed a $1-billion outline agreement with Zimbabwe to build a steelmaking plant there after completing a feasibility study.
President Emmerson Mnangagwa's government is trying to woo foreign investors, especially in mining, as part of efforts to revive an economy that suffered in the later years of Robert Mugabe's rule.
Mines Minister Winston Chitando, who signed the agreement with a Tsingshan official, said the plant would produce two-million tonnes of steel a year for 25 years.
Tsingshan will carry out the project through its local subsidiary Afrochime, which produces chrome ore.
A flurry of foreign investors have sought opportunities since Mugabe's downfall in November, but many appear to be avoiding committing funds until after elections next month.
Zimbabwe's only integrated steel plant, ZISCO, shut down in 2008 at the height of an economic crisis and China's R&F has said it plans to invest up to $2-billion to revive the operation.
Comments
The
functionality
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation