Published: 06 September 2013

Essar Africa Holdings Ltd has entered into "definitive" agreements with the Zimbabwean government to revive the old Ziscosteel plant and develop an iron ore beneficiation plant in the country, businessdigest can reveal.

Documents show that apart from the plan to revive the Ziscosteel plant and developing an iron ore beneficiation plant at Mwanesi, Essar is also going to invest several millions of dollars into a 552km railway line.

The railway line will stretch from Mwanesi all the way to Savannem in Mozambique.

An internal Essar document said a memorandum of understanding with the Mozambican authorities had been signed.

According to information at hand, Essar is planning to revive the steel-making assets of Zisco and build a crude steel production plant with a capacity of 0.5 metric tonnes per annum (mtpa).

- businessdigest

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