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China's Tsingshan Commences Production at $1 Billion Steel Plant in Zimbabwe

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Ayize claire

Jun 20, 2024

Tsingshan's $1 Billion Steel Plant in Zimbabwe Begins Production, Promising Economic Growth and Job Creation

Construction work is continuing at the Dinson Iron and Steel Plant near Mvuma

China's nickel giant, Tsingshan Holding Group, has started production at its $1 billion steel plant in central Zimbabwe. Wilfred Motsi, the project director of Tsingshan's Dinson Iron and Steel Company, announced on Thursday that the plant will produce 600,000 metric tons of carbon steel annually in the first phase of its operations. The initial production involves pig iron, a key raw material for steel production, with actual carbon steel production set to begin by July. The duration of the first phase was not disclosed.

Tsingshan, one of the world's leading nickel producers, has been heavily investing in Zimbabwe. Alongside the steel plant, the company operates ferrochrome, coking coal, and lithium mining businesses in the country. Additionally, Tsingshan has constructed a 50-megawatt thermal power plant at Dinson. The steel plant will leverage gas from its furnace to meet 20% of its electricity needs and plans to build a solar power plant to further mitigate Zimbabwe's electricity challenges.

By diversifying its energy sources and investing in local industries, Tsingshan aims to enhance Zimbabwe's industrial capacity and energy security. The significant financial commitment and strategic planning underscore the company's long-term vision for its operations in the region.

This steel plant represents a pivotal development in Zimbabwe's industrial landscape, promising to boost economic growth and create job opportunities, thereby contributing to the broader economic resilience of the southern African nation.

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