Staff Reporter
In a bid to propel the country towards an upper middle-income economy, sponge iron manufacturing and beneficiation in Masvingo is gearing up to make a significant impact on job creation.
In an interview with this publication, a reliable source disclosed that the industry is poised to generate more than 600 job opportunities while injecting US$49 million in capital to bolster steel production.
“Construction activity resumed this February following the unveiling of a lucrative market both domestically and internationally for steel products. Operations, which were temporarily halted in September last year, are set to resume this March," said the source.
The source further indicated that the company's preparedness is currently at 40%, a position that facilitates the swift resumption of production.
“The plant is delivering great opportunities for the local community in Masvingo. Beyond job creation, its presence is poised to unlock a plethora of benefits, ultimately bolstering economic opportunities for residents. This is indeed a positive step towards sustainable development and prosperity for the region,” said the source.
Furthermore, the source revealed the commendable efforts of the Zhongxin smelting company in driving development in Masvingo province.
“Zhongxin has over 200 individuals already employed at the company’s $30 million ferrochrome plant, predominantly youths, and Zhongxin is making progress in complementing the government's job creation efforts. The company has been successfully connected to the grid since December 2023, which has boosted its annual production capacity to 25 000 tonnes.
“With these projects in the pipeline, Zimbabwe is on the brink of a transformative economic resurgence, propelled by the vigour of its burgeoning industrial sector and its unwavering commitment to uplift its communities,” added the source.
Meanwhile, the Second Republic’s commitment to fostering development in Masvingo province is evident through various initiatives aimed at transforming the lives of its youth populace. Notable projects such as the construction of Rujeko Secondary School and the North West Clinic underscore the Government’s dedication to job creation and infrastructure development.
