SA firm rescues Zimasco

A SOUTH African investor has signed a five-year deal with Zimasco, which will see the reopening of three chrome smelting furnaces which were shut down early this year.

Portnex International entered into a five-year lease with Sino Zimbabwe, Zimasco’s major shareholder, which will see the creation of 600 jobs.

Speaking during a tour of the company by Mines minister Walter Chidhakwa, Portnex International managing director Frikie Laubscher said his company would commission the first furnace in February next year, while the other two would be brought on line in March.

This story is for NewsDay subscribers.