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Benson Xu, the company’s chief executive officer, recently stated that an explosion in infrastructure projects in Africa had fueled demand for steel products, which his company would be able to meet.
$1.55 billion Mvuma steel plant in Zimbabwe reaches 40% completion
23 September 2022
The construction of Mvuma steel plant in Zimbabwe is reportedly 40% complete. This was revealed by Dinson Iron and Steel Company (Disco), a Chinese stainless-steel company in charge of the $1.55 billion project.
The Mvuma steel plant construction is two months ahead of schedule, according to the project manager Wilfred Motsi. The facility is therefore expected to begin production in August of next year.
Power utility Zesa and the plant have already inked a power deal. Consequently, a powerline linking Zesa’s facility to the national grid will be constructed. This will be supported by US$55 million in loans from the Chinese firm provided as part of the deal.
For the construction of the powerline, Motsi said that preliminary work and designs were progressing as expected. According to him, the loan of $55M would cover the cost of the powerline as well as other necessary infrastructure.
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