New $1.5 Billion Steel Plant to Commence Operations in June

SEATTLE (Scrap Monster): The $1.5 mammoth billion steel plant built by Dinson Iron and Steel Company (DISCO)- a subsidiary of Chinese Tsingshan Holdings, is expected to commence operations by June this year. The plant is located in Manhize near Mvuma, Zimbabwe.

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According to the Engineering Iron and Steel Association of Zimbabwe (EISAZ), the country’s annual steel consumption is estimated at around 1.5 million tonnes. Zisco, which closed its doors in 2008, had produced over 1 million tonnes of steel per annum. Since then, the country has been spending huge money on imports of steel and related products from other countries. The commissioning of the new steel plant, considered as the largest integrated steel plant in entire African region, will reduce the country’s dependence on imported steel.

The steel plant site is said to have stockpiled more than 50,000 tonnes of coking coal. The company has already started mobilising raw materials to the plant. Adequate quantities of iron ore have already been mined and crushed at the company’s mine located nearby. Also, the company is involved in the process of extracting limestone from its mine located in Masvingo.