Zimpapers Logo

Midlands Bureau Chief

REDCLIFF-based steel manufacturer, Steelmakers Ltd has been commended for exporting some of its products, earning the country US$400 000 in foreign currency.

Speaking during a tour of the company recently, Midlands Provincial Affairs and Devolution Minister Owen Ncube hailed the company for partnering with the Government in its pursuit of economic development.

“Government has within the NDS1, a key result area on having a structurally balanced economy where the focus is to improve the performance of the manufacturing sector through value addition for export generation and import substitution,” he said.

“I have been made aware that the Redcliff plant exports products ranging between US$300 000 and US$400  000 which is around 25 percent of Steelmakers monthly production. Such exports should continue to grow to strengthen our export earnings.”

Minister Ncube said Steelmakers, which started its operations in 1998, specialising in the mining and production of coal and carbon steel products has remained an economic confidence-building reference point in the Second Republic’s efforts aimed at attracting Foreign Direct Investment (FDI) in mining and manufacturing.

Minister Ncube said despite illegal economic sanctions and the impact of Covid-19 on its operations, Steelmakers continued to supply all the steel raw material requirements for local companies like Zimplow and Treger, thereby substantially reducing imports for local companies.

“Indeed, over the years we have witnessed entry in the steel-making sector by some players motivated by the resilience and commitment shown by Steelmakers,” he said.

Minister Ncube said Government will continue to improve Zimbabwe’s economy through a robust Private Sector-led modernisation and industrialisation agenda seeking to attain an upper middle-income economy by 2030.

Underpinned by the devolution and decentralisation policy which provides for and demands contributions to national GDP by provinces and local authorities, Steelmakers has contributed to the growth of the provincial GDP by exploiting the mineral-rich Great Dyke, which provides mining and mineral opportunities.

Steelmakers also does the processing of scrap metal into steel and steel products which are used in construction, engineering, fabrication, foundry, mining and agriculture.

The company also manufactures and supplies hot rolled steel and foundry products to the Southern African region.

Steelmakers employ more than 500 workers of whom 85 are in coal mining in Chiredzi and 140 in the iron ore concessions in Masvingo.