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New steel factory for Bulawayo

Steel News - Published on Wed, 20 Feb 2019

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Chronicle reported that Zimbawe’s Primetone Investments is in discussions with an Asian group of companies, Kanku International, to set up a USD250 000 steel manufacturing plant in Bulawayo. In an interview during a tour of the site in Kelvin Industrial area by Industry and Commerce Deputy Minister Raj Modi and Kanku International managing director Mr Mukesh Kothari, where the steel plant would be established, one of Primetone directors Mr Kudzai Mumvuri said their Indian counterparts were in strategic partnership negotiations.

Mr Mumvuri said that “They are planning to invest in this company Primetone Investments and once it becomes operational this company has capacity to employ over 250 people and of that figure maybe close to 200 people will be general labour. We have just done some preliminary discussions. We want to start manufacturing steel here (Bulawayo) and the company will be a mini Zisco. This is a new factory, it’s just that we need more money to kick start it. We are looking at figures between US$200 000 and USD 250 000.”

He said as soon as they finalise discussions, they should be able to start operations in three months. He added that We are so excited by this new dispensation and we are looking forward to these guys who are coming through to invest.”

He added that “Honourable Modi has been working very hard and we are hoping that whatever he is trying to do to get investors here in Zimbabwe, will bring some fruits into the city and the country at large.”

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Posted By : Rabi Wangkhem on Wed, 20 Feb 2019
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