Deputy minister of transport and infrastructural development, honorable Mike Madiro says the government through the help of the Chinese is going to establish another giant stainless steel manufacturing company in Chivhu in line with the new dispensation.
Addressing transport operators during a signing ceremony that was held in Harare on Wednesday, Madiro said the steel company will be bigger than ZISCO Steel in Redcliff.
“The vision of the new dispensation is to move away from the public sector dominated economy and have a private sector driven economy.
“In Chivhu we are going to have this giant Chinese company which is going to establish the stainless steel manufacturing one of the biggest even bigger than Redcliff.” He said.
The deputy minister of transport added that the company will be worth billions of dollars.
“There is going to be a lot of market of yourselves in terms of transport service because a town is going to come up in Chivhu were a stainless steel company worth billions of dollars including a railway line to connect that facility.” He said.” He added.
The Zimbabwe Iron and Steel Company (Ziscosteel) is 89% owned by the government of Zimbabwe while the remainder is in the hands of private shareholders. The company owns Buchwa Mining Company (BIMCO), Lancashire Steel, ZimChem and Frontier Steel.