Africa-Press – Zimbabwe. ZIMBABWE’S steel industry is poised for a major revival as Zimbabwe Iron and Steel Company (Zisco) and Dinson Iron & Steel Company partner to drive growth and development in the sector.
The remarks were made by the Industry and Commerce minister Mangaliso Ndlovu during a Parliament session on Wednesday.
“The coming on board of the Dinson Iron and Steel Company currently presents a unique opportunity to build synergies with existing Zisco company plant and other downstream industries such as Lancashire Steel, hence promoting the revival of the local iron and steel sector,” he said.
Ndlovu said the revival of the steel sector in the country would create many jobs and help the nation’s economy grow.
“We are very close to having companies sign a memorandum of understanding that ensures they do not compete in production of the same products, but rather complement each other,” he said.
“Dinson produces pig iron and steel billets for export and will soon be producing the second stage of hot rolled bars.
“They have agreed in principle to leave certain types to be produced by Zisco Steel.”
Ndlovu said Zisco was mobilising some resources to revive one of their kin limestone beneficiation into burnt lime, which is used to remove impurities in steel making and used in construction such as cement manufacturing.
“Zisco is currently implementing a robust turnaround strategy anchored on a strategic partnership we are mapping out with Dinson. We stopped any stripping of Zisco which was going on,” the Industry and Commerce minister said.
“Zisco board and management have taken full control of the operation at Zisco Steel.
“Our focus is to make sure that the capacity that was lost at Zisco Steel, which was the primary conversion of iron ore into steel we have regained through Dinson.”
Ndlovu made the above remarks responding to Mbizo legislator Corban Madzivanyika, who asked what plans government had to resuscitate Zisco Steel and Lancashire in the Midlands city.
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