Help Desk -
9958816305, 9810335381

COVID19 Delays ZimCoke-Zisco Deal

Steel News - Published on Wed, 08 Jul 2020

Image Source: ZimCoke Zisco
The Chronicle reported that COVID19 pandemic has resulted in the prolonged delays in finalising the deal between ZimCoke and the now defunct steel giant, Zisco. ZimCoke Private Limited purchased coke ovens within the Ziscosteel plant in a USD 225 million deal and was scheduled to commence production early this year. The infectious disease has also frustrated talks between Zisco and its Chinese investors that is supposed to pave way for the ZimCoke deal.

The revival of Zisco has suffered numerous setbacks in the past. These include the USD 750 million deal with Essar Africa, which collapsed in 2013 as a result of bickering during the inclusive Government. The Government later engaged a Hong Kong headquartered steel producing company, R and F, which proposed a USD 1 billion investment two years ago but the deal is yet to take shape.

Source :

Posted By : Yogender Pancholi on Wed, 08 Jul 2020
Related News from Steel segment