BEIJING: China's Tsingshan Holding Group plans to build a carbon steel plant with capacity of 1.2 million tonnes in Zimbabwe, the company said in a statement on Monday. The project will be operated by Tsingshan's unit Zhejiang Dinson Holding Co Ltd, according to the statement. Dinson already has ferrochrome smelters in Zimbabwe with annual capacity at 100,000 tonnes.
The local government, cited by Tsingshan in the statement, said it hopes Tsingshan can ramp up investment in Zimbabwe and would provide necessary mineral resources and policy support.
The statement did not say when construction of the project would start. The African country's information minister said in March that Tsingshan was set to start developing an iron ore mine in Zimbabwe.
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