Wednesday, June 19, 2024
HomenewsSecond Republic weathers sanctions storm, attracts lucrative investment

Second Republic weathers sanctions storm, attracts lucrative investment

Second Republic weathers sanctions storm, attracts lucrative investment


Patrick Chitumba, [email protected]

DESPITE the illegal sanctions imposed on Zimbabwe by the United States, the UK and their allies, the Second Republic has continued to attract investment like the US$1,5 billion Chinese investor, Dinson Iron and Steel Company (Disco) at the Manhize area in Chirumhanzu District in the Midlands Province.

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Dinson Iron and Steel Company (Disco)

Disco will spur the growth of Zimbabwe’s iron and steel engineering industry, which took a heavy battering following the collapse of the Zimbabwe Iron and Steel Company (Zisco) in 2008, once the largest steel manufacturing plant north of the Limpopo.

The imposition of the punitive measures was a direct response to Government’s decision to correct the skewed land ownership which favoured the minority White farmers.

Zimbabweans have been commended for applying their skills in the development of the country despite the illegal sanctions.

In July 2019 Sadc declared 25 October as the day on which Member States collectively voice their disapproval of the sanctions against Zimbabwe. 

SADC 2

This bold decision and a show of solidarity is a reflection of the principled revolutionary character of the regional body which has consistently opposed injustices and oppression.

As the country and Sadc prepare to commemorate the Anti-Sanctions Day, people from the Midlands province have commended the Second Republic under the leadership of President Mnangagwa for creating a conducive business environment that is attracting investment to the province.

Disco is establishing one of Africa’s largest integrated steel plants near Mvuma and production of steel is scheduled to start in the next quarter.

The completion of the steel plant will result in a massive cut of the country’s steel import bill while creating  thousands of jobs. Disco, a unit of China’s Tsingshan Holdings Group Limited, said work on the plant is above 70 percent complete and during the first phase of production, the company expects to produce 1,2 million tonnes of steel annually and  thereafter production will be increased gradually. 

The target is to produce five million tonnes annually when the company operates at full throttle.

The groundbreaking ceremony for the plant was presided over by President Mnangagwa paving way for construction works to start.

Disco public relations manager Mr Joseph Shoko said yesterday that the construction of the workshop has been completed.

“The workshop will be highly equipped for fabrication and machination and will be the biggest workshop in the country. We will be able to make steel pipes of 1,8 metres in diameter. We will be producing the bulk of the pipes required by councils for water and sewer reticulation as well as irrigation pipes.” he said.

The plant, he said, is above 70 percent complete and indications were that the target for completion will be met.

“The power line from Sherwood is under construction and should be completed by the end of November. Excavation is complete for the entire 100 km. Poles are now being erected and work is going on smoothly and only a few families are affected by the servitude,” said Mr Shoko.

He said the power station construction is on and projected to be finished before end of November

“The centre plant is over 80 percent complete as well as the blast furnace. We have recruited 20 students for attachment from universities and vocational colleges and more than 1 400 locals have been employed,” said Mr Shoko.

He said the state-of-the-art laboratory is also over 80 percent complete and is expected to employ no less than 20 lab technicians. Mr Shoko said there will be a very big canteen with a capacity to feed over 5 000 employees, which is over 78 percent complete.

Daniel Mackenzie Ncube

Engineer Daniel Mackenzie Ncube

Midlands Senator Engineer Daniel Mackenzie Ncube said initiatives like the steel plant were sanction-busting strategies put in place by the Second Republic.

“There are a lot of positive development stories in the Midlands province and the country at large despite the illegal sanctions imposed on Zimbabwe by its detractors. I want to say thumbs up to the Second Republic which has taken a bold move to transform the national economy using the country’s abundant natural and human resources,” he said.

Real Estate Developer and Construction expert Dr Tinashe Manzungu said investments such as the Disco steel plant were a confirmation that the country is attracting investors despite illegal sanctions.  He said the country’s economy has witnessed growth in the past past three years.

Businessman Mr Patrick Chikwanda of Gramlex Steel said once Disco starts production, most companies will buy steel prodcuts locally as opposed to importing as is the case now.

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