Ziscosteel revival hope

Ziscosteel revival hope
Published: 25 November 2017
KWEKWE and Redcliff residents are optimistic that the incoming President, Emmerson Mnangagwa, would spearhead the revival of Ziscosteel and bring the two towns back to life.

Redcliff Mayor Councillor Fred Kapuya said residents were very hopeful that Mnangagwa's inauguration would result in expeditious revival of the defunct steelmaker, which used to be the backbone of Redcliff.

President-designate Mnangagwa is expected to be sworn in today. He is on record as saying the revival of the former giant iron and steel manufacturer has remained Government's top priority.

"When Mnangagwa was still Vice President responsible for the revival of the industries, he vowed that Zisco would come back to life. We have so much confidence in him and his approach to business is modern and pragmatic. So we are optimistic that he will spearhead the revival of Ziscosteel," said Cllr Kapuya.

He said there was no doubt that Mnangagwa would turn around the country's dwindling economy and transform the livelihoods of the people for the better.

Kwekwe Mayor Cllr Matenda Madzoke said the revival of Ziscosteel would also mean the revival of Kwekwe. He said they were optimistic that the in-coming President would prioritise the revival of industries so that jobs are created.

"On Wednesday while addressing party supporters in Harare, Mnangagwa said there was a need to create jobs and that is possible when industries such as Ziscosteel are revived. We are optimistic that with Mnangagwa as President, investors will come running into the country," said Cllr Madzoke.

Mnangagwa has always emphasised the need for a one stop shop for investors in an endeavour to curb red tape, bureaucracy and sabotage which have hampered investment. Government recently sealed a $1 billion deal for the revival of the iron and steel giant with a Chinese company in an arrangement that will result in one million tonnes of steel being produced in the next 18 months.

It is projected that the investment might rise to $2 billion upon completion of all the implementation stages. The Chinese investor, R and F Company, is also involved in various investments ranging from mining to real estate and tourism.

Government has allayed fears that the new project might fail to materialise the same way the Essar Holdings deal did. The Indian firm, Essar, pulled out of the Ziscosteel deal after commitment in 2011. The deal, worth an estimated $750 million, was stalled by numerous squabbles, including mineral rights and other technicalities. The then Minister of Industry and Commerce in the inclusive Government, Professor Welshman Ncube, was also accused of bungling the Essar deal.
- online
Tags: Zisco,

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