Accessibility links

Breaking News

Three Foreign Firms Shortlisted For Strategic Stake in Zimbabwe's Ziscosteel


Industry Minister Welshman Ncube said the three short-listed companies are Jindal Steel and Power of India, Sino-Zimbabwe of China and Essar Global Limited, an Indian-registered Mauritian firm

Zimbabwe's Ministry of Industry and Commerce has given the national unity government a short list of three foreign companies seeking a strategic stake in the Zimbabwe Iron and Steel Company or Ziscosteel.

Industry Minister Welshman Ncube identified the three short-listed companies as Jindal Steel and Power of India, Sino-Zimbabwe of China and Essar Global Limited, an Indian-registered firm based in Mauritius.

Sino-Zimbabwe is believed to be linked to China Sonangol Holdings which bid for the stake in Ziscosteel.

Jindal Steel and Power of India submitted a bid earlier this year that was rejected by the Harare government on grounds that it did not state how the company would deal with Ziscosteel’s US$300 million debt.

The Mauritian-based Essar Global Limited is tipped to win the bid.

Industry Minister Ncube told VOA Studio 7 reporter Gibbs Dube that the principals are expected to select the winner of the tender within the next few days.

See comments (1)

This forum has been closed.
XS
SM
MD
LG