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China Embassy in Zimbabwe has commended the deal between Dinson Iron and Steel Company and Zent of setting up a steel galvanising plant at Manhize near Mvuma.
China took a tweet to praise the deal between a subsidiary of Zesa and saying the deal will boost the country’s economic development.
“Glad to see the new deal that Dinson Steel & Zent, a Zesa subsidiary are setting up a steel galvanising plant to make steel towers for transmission lines and other steel products, which will do more for Zimbabwe’s economic development, especially in the energy sector.”
Last week a subsidiary of Zesa, Zent and the Dinson Iron and Steel Company, the Zimbabwean subsidiary of the giant Tsingshan group signed a Memorandum of Understanding through a joint statement they confirmed that they registered a mile stone by signing the MoU to value add steel products.
MoU will see the two parties jointly set up a steel galvanising plant and machine shop for value addition of steel products to be commissioned by December 2023. The steel beneficiation project will substantially cut the country’s import bill on steel products and provide capacity for exports into the region.
The two firms assured that the project will also see the country develop internal capacity to manufacture electricity transmission and communication steel towers, steel support structures for dams, bridges and solar plants.
This deal will also offer employment opportunity in the country as well as infrastructure development.
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