Dinson Iron and Steel Company (DISCO), a subsidiary of Chinese steel giant Tsingshan Holdings Group, is targeting net annual revenue of US$4,25 billion in the fourth and final phase of the project, which the group expects to reach in four to five years, an official has said.
At that point, production volumes are targeted to reach 5 million tonnes from 3,2 million tonnes anticipated during the third phase.
Production during the first and second phases is targeted at 600 000 tonnes and 1 200 tonnes, respectively.
In terms of employment, project director Mr Wilfred Motsi indicated that the company should employ 3 000 employees during the first phase, a figure that should double during the second phase.
In phase four, the group will have 25 000 direct employees while the figure should reach upwards of 150 000 direct and indirect employment at that stage.
This could make the group potentially Zimbabwe's biggest employer, helped by various expansion initiatives being implemented.
"The company is still going to invest more in Zimbabwe," he said during a webinar on the state of the iron and steel industry report dissemination.
"Dinson will become the largest employer in the country, already we are above a thousand yet we are still at construction level," he said.
Production of pig iron is expected to start on June 24, while that of steel billets and steel bars should start on July 24 and October 8 respectively.
The company has made significant progress at its Manhize project in Mashonaland East Province various projects are under implementation.
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Mr Motsi revealed the mining company has completed its oxygen plant, which is critical for combustion processes in the blast furnace.
A sintering plant complex is also complete and the company is now at the first stage in the production line of steel (iron ore, limestone, coke, etc) to produce sinter cake.
Another fully completed project is the blast furnace for melting sinter cake and separation of impurities in addition to the production of pig iron, flue dust, top gas and slag.
A coking oven is also 100 percent complete which produces heat for a blast furnace.
The construction of a steel complex is almost 90 percent complete.
"This is where steel billets will be produced," said Mr Motsi.
Dinson is also working on a 50 megawatts (MW) thermal power station, which is now 98 percent complete.
Full implementation of the project is also expected to transform Chivhu into a vibrant town with enhanced infrastructure such as housing and social amenities. The project is expected to see a new town sprouting in the area boasting basic modern infrastructure.
The Manhize project is touted to be Africa's biggest integrated steelworks, by Dinson, which is one of the three local subsidiaries of China's stainless steel producer Tsingshan Holdings Group Limited.
Locally, the group's other subsidiaries are Afrochine Smelting in Selous, Mashonaland West province; and Dinson Colliery in Hwange, Matabeleland North province.
