HARARE, Aug. 16 (Xinhua) -- Zimbabwean Minister of Information, Publicity and Broadcasting Services Jenfan Muswere has said the Chinese-invested Dinson Iron and Steel Company (DISCO) has boosted the country's industrialization efforts.
Speaking during a media tour on Friday, Muswere hailed the project as one of the success stories under the leadership of President Emmerson Mnangagwa, noting that it reflects Zimbabwe's quest to attain industrial sovereignty.
"For many decades, Zimbabwe has been importing steel worth billions of dollars, but with the coming on board of Dinson, the country is now benefiting from import substitution," Muswere said.
He said the steel plant, which was granted a Special Economic Zone (SEZ) certificate, as well as the developer and operator permits by the Zimbabwe Investment and Development Agency last week, will enhance mineral beneficiation and value addition, thereby boosting employment creation and contributing to Zimbabwe's economic growth.
Xu Kemin, chief executive officer of Dinson Group, said the SEZ status will help unlock Zimbabwe's industrialization potential and contribute to the country's economic growth.
"We will be available to host new investment into the industrial park, especially in the zone. We believe that the zone is going to be the most successful, most vibrant zone in the country," Xu said, adding that the steel plant will be the anchor project in the industrial zone where upstream and downstream businesses are welcome to invest.
DISCO, a subsidiary of China's Tsingshan Holding Group, commenced construction of the steel plant in Midlands Province in 2022 and aims to make Zimbabwe a major regional player in steel production.
