Ziscosteel needs $1bn to kick start

Ziscosteel needs $1bn to kick start
Published: 01 March 2018
Ziscosteel requires at least $1billion to restart operations following its closure about 10 years ago while the new investor will need 18 to 24 months to restructure and reconstruct blast furnaces before production can resume, chief executive, Mr Alous Gowo has said.

Gowo, who was retained at the defunct steel giant on a temporary basis to facilitate hand over take over with the new Chinese investor, R &F Properties was briefing a Parliamentary Portfolio Committee on Mines and Energy meeting at the plant in Redcliff, near Kwekwe, yesterday.

He said the new investor was expected soon on the site to assess the current state of the company to starting resuscitation of the company.

"This company has been shut for the last 10 years and there is a lot that needs to be done to revamp it."
- The Herald
Tags: Zisco,


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