Published: 33 mins ago

The Dinson Iron and Steel Company (Disco) in Manhize, Midlands Province, has raked in nearly US$100 million in steel sales during the first half of the year, marking a major milestone in Zimbabwe's efforts to cut reliance on imports and stimulate industrial growth.

The US$1,5 billion steel venture, operated by China's Tsingshan Group, is now producing 600 000 tonnes of steel products annually, ranging from pig iron and billets to rebars, for both local and export markets. The output is already feeding into critical national infrastructure projects, including the Lake Gwayi-Shangani Dam in Matabeleland North.

Briefing Information, Publicity and Broadcasting Services Minister Dr Jenfan Muswere during a recent tour of the plant, Disco chief executive Benson Xu said the project had rapidly shifted from groundbreaking to full-scale production in less than two years.

"We had a ground-breaking ceremony in October 2022, led by His Excellency President Mnangagwa. Our team has been working tirelessly and in June 2024, we achieved our first production of steel billets. In the first half of the year, we made US$100 million in sales, saving the country revenue on steel imports," Xu said.

He noted that the company's immediate priority was producing high-quality steel for domestic needs, while also positioning Zimbabwe as a regional and global player in the sector. Analysts say the Manhize plant is a game-changer for Zimbabwe, aligning with Vision 2030's goals of industrialisation, job creation and value addition.

Xu praised the government for creating a business-friendly environment, pointing to the partnership as evidence of Zimbabwe's readiness to attract and retain large-scale investments. "We are planning to diversify and work on import substitution, collaborating with other industrialists in the zone. We have created a platform for other sectors to come and work with us, and we believe that by working together, we can all contribute to the growth of the economy," he said.

He added that transparency and cooperation were key to the success of the project. "We have delivered the project with the support of the Government and we commend President Mnangagwa and his administration for giving us the opportunity to invest in the country. Zimbabwe and China are one family and we are grateful for the support."

The Manhize steel plant is strategically linked with Tsingshan's other Zimbabwean ventures—Afrochine Smelting in Selous and Dinson Colliery in Hwange. These operations supply ferrochrome and coke, which are critical inputs in steelmaking, creating a vertically integrated industrial base.

With its expanding output and contribution to infrastructure development, the Manhize project is being hailed as one of the cornerstones of Zimbabwe's industrial revival and its drive towards becoming an upper middle-income economy by 2030.
- The Herald

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