Chinese firm to set up another steel plant in Zimbabwe

Chinese firm to set up another steel plant in Zimbabwe

via Bulawayo24 NEWS | Chinese firm to set up another steel plant in Zimbabwe 05 February 2014

Shanghai-based Tsingshan Iron and Steel Group has expressed interest to invest in a second steel plant for Zimbabwe, an official has said.

Deputy Chief Secretary in the Office of the President and Cabinet Christian Katsande said the company had already engaged Government on the modalities of the construction of the plant.

“The plant will be a different venture from the NewZim steel. It will focus on stainless steel,” he said.

Katsande however could not disclose the amount invested for the plant, he said the plant would be involved in large production volumes of steel.

He said by the end of the first quarter, discussions on the steel plant would have been completed.

He said investors were seeking assurance from Government that their investments would be safe.

“We as Government and Office of the President are taking part in discussions to make sure that investments are taken care of,” he said. Also speaking at the same event, Permanent Secretary for Industry and Commerce Abigail Shoniwa said work at NewZim Steel would begin by next week.

She said a team of engineers would be coming into the country on Friday to start work on the ground.

“Technical people from the investor will be working into next week and they will be bringing in some machinery from China to kick-start the work,” she said.

 

COMMENTS

WORDPRESS: 6
  • comment-avatar
    John Thomas 4 years

    So many of these proposed projects with the Chinese never come to anything. Why is this? It is because when the locals start to to put the “bite” on the .Chinese, like many others lose interest.

  • comment-avatar
    gorongoza 4 years

    Chinasation, oh! sorry I meant indeginisation. I will be watching the shareholding structure of the company, the number of Chinese working there vs. locals and its management structure. I wont be surprised at all…that I promise you!

    • comment-avatar
      MikeH 4 years

      You missed an i out …. Chinaisation !!! But otherwise you are on the right track.

  • comment-avatar
    Mthwakazi 4 years

    I am indeed sick and tired of these numerous claims about the Chinese’s benevolence. How many of these claimed projects have ever come to fruition?

    • comment-avatar
      mucha 4 years

      Tribalist Mthwakazi. Dont worry, the Chinese are not cmng to Matebeleland.

  • comment-avatar
    fkr 4 years

    49% Chinese? 51% given for free to a buddy of bob? What a lovely investment