Zimbabwe is rapidly re-establishing itself as a regional steel powerhouse following a new $500 million investment by Dinson Iron and Steel Company (Disco) in its Manhize plant, This additional capital brings the total investment by the Tsingshan Group subsidiary to $1.5 billion, with a strategic roadmap to reach $2 billion by 2030.
The expansion focuses on the acquisition of advanced machinery for value addition and beneficiation, effectively transforming Zimbabwe from a steel importer into a net exporter , Currently, the plant produces 600,000 tonnes of steel annually—double the national requirement of 300,000 tonnes—with projections to hit 1.2 million tonnes by 2030.
The Manhize project, a cornerstone of Zimbabwe’s National Development Strategy (NDS1), has already created over 2,000 jobs and catalyzed the development of a new urban center in a previously rural area, Beyond steel billets and rebars, the complex is diversifying into cement manufacturing and has achieved significant energy self-sufficiency through a 50MW internal power plant and a 20MW station powered by waste gas.
Officials confirmed that excess power of over 30MW is currently being negotiated for integration into the national grid. By satisfying local demand and expanding exports to markets like South Africa, the project is expected to save the country over $500 million annually in import costs while revitalizing downstream industrial hubs in cities like Bulawayo.
read more
Zimbabwe ends $367 million health funding talks , suspends exports of all raw minerals
