A new Chinese-led plant could turn Zimbabwe into Africa’s largest producer of iron and steel. Zimbabwean president Emmerson Mnangagwa led the groundbreaking ceremony of the new $1.5 billion project, led by Dinson Iron and Steel, a subsidiary of the Chinese company Tsingshan Holdings.
The plant will have the capacity to produce 1.2 million tonnes of steel, which would turn Zimbabwe into a steel exporter. Currently, the country imports 90% of its steel, mostly from South Africa, Zambia, and the Seychelles. (PINDULA)
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