New Zimbabwe.com

Ziscosteel Board Cancels Unfavourable Deals

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By Staff Reporter


THE Ziscosteel board has cancelled all deals it entered into with various business entities as it views them as unfavourable to its revival plan.

This was confirmed by board chairperson, Martin Manhuwa Thursday while briefing a government inter-ministerial team that toured the giant mothballed Ziscosteel plant in Redcliff.

One of the companies that have been affected by the cancellation is Zimcoke, which was operating within the premises of Ziscosteel.

“We are cancelling some agreements that are not favourable to Zisco and the Zimcoke agreement is one that we have cancelled as it was not favourable,” said Manhuwa.

Zimcoke consultant Eddie Cross confirmed to NewZimbabwe.com that the company’s operations have been stalled by as the government was prioritising the revival of Ziscosteel.

“A Chinese group has approached the government to build a giant steel plant. If they get the nod, OK they have the offer to revive Zisco. If the deal goes through Zimcoke will either participate or have their deal cancelled,” Cross said.

“We are waiting for this decision. The first prize for Zimbabwe is the bigger project which will transform our economy. We understand that and will go with the national interest when this is determined,” he added.