Chinese nickel producer Tsingshan Holding Group is set to inject $800 million into the expansion of its steel operations in central Zimbabwe, according to a report by Reuters.
The investment will be channeled through its subsidiary, Dinson Iron and Steel Company (DISCO).
The expansion aims to double the plant’s annual carbon steel production capacity from 600,000 metric tonnes to 1.2 million tonnes, project director Wilfred Motsi confirmed.
The development will include new blast furnaces, rolling mills, and steel processing facilities, alongside additional infrastructure to support operations.
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Tsingshan, one of the world’s largest nickel producers, has steadily expanded its footprint in Zimbabwe with investments in ferrochrome, coking coal, and lithium projects.
The company has also completed a 50-megawatt thermal power plant in the project’s first phase, with additional energy to be generated from furnace gas, covering around 20% of the plant’s consumption needs.
Zimbabwe’s Information Minister, Jenfan Muswere, emphasized that the steel plant’s expansion would significantly reduce the country’s $1 billion annual steel import bill, while also strengthening its manufacturing base.
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The initiative is part of the government’s broader plan to revive the nation’s industrial backbone, which has struggled since the collapse of the Zimbabwe Iron and Steel Company (ZISCO) in 2008.
Once completed, the Dinson facility is expected to become Africa’s largest steel plant, a development analysts say could reshape Zimbabwe’s economic prospects.
Image Credit: Business Insider Africa
