Translation. Region: Russian Federal
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
HARARE, Aug. 18 (Xinhua) — Chinese-invested steelmaker Dinson Iron and Steel Company (DISCO) has helped accelerate Zimbabwe's industrialization, the country's Minister of Information, Publicity and Broadcasting Jenfan Muswere said.
Speaking during a media tour on Friday, Muswere described the project as one of President Emmerson Mnangagwa's success stories, saying it reflected Zimbabwe's aspirations to achieve industrial self-sufficiency.
“For many decades, Zimbabwe imported billions of dollars worth of steel, but with the advent of DISCO, the country is now benefiting from import substitution,” said D. Muswere.
He said the steel plant, which received a special economic zone certificate as well as development and operating permits from the Zimbabwe Investment and Development Agency last week, would help beneficiate minerals and increase their value addition, thereby stimulating job creation and contributing to Zimbabwe's economic growth.
Xu Keming, CEO of DISCO, said the special economic zone status would help unlock Zimbabwe's industrialisation potential and contribute to the country's economic growth.
“We will be ready to accept new investments in the industrial park, especially in the zone. We believe that this zone will become the most successful and dynamic zone in the country,” the head of the company said, adding that the steel plant will be the main project in the industrial zone, where investments in enterprises engaged in the extraction and processing of raw materials are welcomed.
DISCO, a subsidiary of China's Tsingshan Holding Group, has started construction of a steel plant in the Midlands province in 2022 in a bid to make Zimbabwe a major regional player in steel production. –0–
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