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President Emmerson Dambudzo Mnangagwa says value addition and beneficiation is the backbone of the National Development Strategy industrial transformation pillar for the attainment of Vision 2030.
He said these words after touring Dinson Iron and Steel Company (DISCO) which is set to create employment for 5 000 people directly employed at the Manhize steel plant, while up to 20 000 will be economically involved in upstream, midstream and downstream activities.
The US$1.5 billion Iron and Steel investment is set to position Zimbabwe among the ranks of global steel manufacturing hubs. Just like the now defunct Zimbabwe Iron and Steel Company did in the years gone by.
DISCO is projected to produce 600 000 tonnes of steel products in the first phase, rising to 1,2 million tonnes in the second phase, then 3,2 million tonnes in the third phase and ultimately five million tonnes per year in the final phase, earning the country millions of dollars in foreign currency.
“It is therefore pleasing that our iron ore will be fully exploited, value added and beneficiated locally.
“This shift in focus allows us to realise maximum benefits from our natural resources, while also capitalising on the value chains including processing, manufacturing and the supply of high-value finished steel goods and products,” he said.
Zwnews
