Reported 11 months ago
A new US$1.5 billion Chinese-built iron and steel plant in Zimbabwe has started production of pig iron, marking a significant milestone for the country's industrialization efforts. The Mvuma steel plant aims to become one of Africa's largest producers of iron and steel products, with plans to eventually expand production to five million tonnes annually. This development is seen as crucial for Zimbabwe's economic revival, with the plant expected to utilize the country's abundant natural resources and contribute to local value chains. China's investments in Zimbabwe, including major infrastructure projects and mineral acquisitions, continue to play a significant role in the country's economic development.
Source: YAHOO