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China's Tsingshan $1 bln steel plant in Zimbabwe begins production

China's nickel giant Tsingshan Holding Group has started production at its $1. billion steel plant in main Zimbabwe, a business authorities said. on Thursday.

Tsingshan's Dinson Iron and Steel Company will produce. 600,000 metric tons of carbon steel each year throughout the very first. phase of its operations, project director Wilfred Motsi informed. press reporters during a trip of the plant.

We have actually started to produce pig iron, which is a raw. product utilized for the production of steel. By July, that's when. we will begin to produce the real carbon steel, Motsi stated.

He did not say for how long the very first stage would last.

Tsingshan, among the world's leading nickel producers, has. made significant investments in Zimbabwe over the last few years. Apart. from the steel plant, Tsingshan also has ferrochrome, coking. coal and lithium mining businesses in the southern African. country.

The business has likewise developed a 50 megawatt thermal power plant. at Dinson. The steel plant will create additional power. through gas produced by its heating system, to meet 20% of its. electrical energy needs.

The business also plans to build a solar power plant to. minimize the impact of Zimbabwe's electrical energy lacks on its. operations.

(source: Reuters)